Financial literacy in the digital age

: understanding generation Z's learning preferences and content consumption in Portugal

Abstract

Financial literacy is essential for effective financial decision-making, yet Portugal ranks lowest among EU countries in financial literacy levels. This study investigates how Generation Z in Portugal consumes financial literacy content, analyzing preferred platforms, content formats, and the correlation between consumption frequency and financial knowledge. A quantitative survey (N=170) was conducted, assessing financial literacy levels, content engagement, and learning preferences. Findings reveal that social media and video platforms are the dominant sources of financial education, with Instagram, TikTok, and YouTube leading in usage. A strong preference for dynamic visual content, such as videos and infographics, correlates with higher financial literacy scores. Additionally, frequent engagement with financial literacy content positively influences financial knowledge, though excessive consumption exhibits diminishing returns. Regression analysis confirms significant relationships between content type, platform choice, and financial literacy. These results highlight the importance of tailoring financial education to Gen Z’s digital consumption habits, emphasizing accessible, credible, and engaging content. The study provides insights for policymakers, educators, and financial institutions to develop effective strategies for improving financial literacy among younger generations. Future research should explore long-term behavioral impacts of digital financial education and platform-specific engagement strategies.

Date of Award	24 Apr 2025
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Rute Xavier (Supervisor)