Confidence meets competence

: aligning financial education with Portuguese Gen Z’s needs

Abstract

Financial literacy is crucial for Gen Z as they enter an increasingly complex financial landscape. However, questions remain about whether young adults are as financially knowledgeable as they believe, especially given their digital learning habits. This thesis investigates financial literacy among Gen Z in Portugal, examining the gaps between perceived and actual financial knowledge, learning preferences, and trust in financial information sources. A quantitative survey of 81 young adults measured objective financial knowledge, self-assessed literacy, preferred content formats and platforms, and trust in various information sources. The findings reveal a misalignment between confidence and competence. Many participants underestimated their financial knowledge, while a smaller segment overestimated their abilities. Overall, respondents demonstrated moderate to strong financial knowledge, but their perceptions often did not match their scores. The study also found that content format and platform influence learning preferences. Less confident individuals favored short, accessible digital content, whereas more confident peers prefers longer or traditional material. Across the sample, a multi-channel approach was evident, highlighting the need for diverse delivery methods. Trust in content emerged as a critical factor, where participants were more willing to act on advice from sources they found credible. These insights underscore the importance of tailoring financial education strategies to Gen Z’s digital behaviors and confidence profiles, and the thesis concludes with practical recommendations for multi-channel, confidence-building initiatives to more effectively empower young people in their financial decision making.

Date of Award	1 Jul 2025
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Rute Xavier (Supervisor)