A Comprehensive Review of Financial Literacy Levels in Generation Z
Author(s): Bhoomi Thakkar, Dr. Hetal Jani
Publication #: 2408057
Date of Publication: 21.08.2024
Country: India
Pages: 1-8
Published In: Volume 10 Issue 4 August-2024
Abstract
The ability to comprehend and utilise various financial abilities, such as managing finances, creating budgets, and investing, is known as financial literacy. FL has been regarded as one of the most crucial elements in enhancing the growth of investors and the economy at large. Based on a thorough assessment of past studies, the goal of this paper is to determine the level of financial literacy among Generation Z. The study focuses in particular on how the financial literacy level of Generation z is influenced by socioeconomic and demographic parameters as age, gender, marital status, and income. The term "Generation Z" describes the group of people who were born between 1997 and 2012; they are and were surrounded by a vast array of digital and smart technologies. many industries, including the financial sector, digitalization has had a significant impact. Financial information is now freely accessible and a number of investment innovations have been introduced, increasing the likelihood that Generation Z (Gen Z) will make investments. However, the drawback is that they might be unable to adequately understand this enormous amount of information. A thorough comprehension of the financial literacy topics will be provided through the study.
Keywords: : Financial literacy, Generation Z, Comprehensive review
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