Low financial literacy among young people often leads to imprudent financial decisions, overwhelming debt, and a lack of financial security. The study investigates the socioeconomic determinants of financial literacy among poor students in secondary schools across Perlis in Malaysia. Socioeconomic factors comprising gender, ethnicity, parents’ level of education, parents’ occupation, and family income represent the independent variables of the study, while financial literacy serves as the dependent variable. A total of 400 respondents were selected from various secondary schools in Perlis. Data were collected using questionnaires, and analyses were conducted by employing Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings indicate that gender, ethnicity, and parental occupation are positively associated with students’ financial literacy, whereas parental education and family income show negative associations. Therefore, the study underscores the importance of schools, educators, and policymakers in introducing targeted efforts to enhance, monitor, and effectively manage and sustain financial literacy levels among poor students in disadvantaged communities.