Purpose: this study was mainly intended to measure the financial literacy level among the commerce post graduate students, at the same time researcher also analysed the influence of financial literacy in altering personal financial behaviour of the students. This research highly intended to recommend the importance of financial literacy among students. Methodology: The primary data were obtained by collecting information through duly filled in questionnaires by the post graduate commerce students (M.Com) in Mangalore Taluk. Sample size is 35. The questionnaire contained 3 sets of questions. For further reference secondary data from various journals, articles and magazines have been referred. Findings: According to the findings of the study, students struggle with personal finance. Despite being post-graduate commerce students, the survey found that financial literacy among students is quite low in terms of their comprehension of basic financial concepts. However, the findings indicate that demographic determinants have a considerable impact on financial literacy. Finally, the study demonstrated that financial literacy had a significant impact on students personal financial behavior. Implications: this study would act as a guide to the future policy makers and academicians to adopt various courses on financial literacy for the students.