Digital vs. in-person financial education: What works best for Generation Z?

Alessia Sconti

Journal of Economic Behavior & Organization, 2022, vol. 194, issue C, 300-318

Abstract: Nowadays, financial literacy is one of the most important skills that can be acquired by a tech-savvy Generation Z student. In order to understand what format of financial education works best for Generation Z, we set up an experiment that involved implementing a financial education program called “Futuro Sicuro” with a sample of 650 High School students in Italy. The program allowed us to gather data from two treatments at the class level, namely 1) a traditional financial education simplified program with the presence of a financial advisor, and 2) a digital financial education program using web-based applications based on learning-by-playing concepts. The two treatments were associated with different costs but showed similar effects: three weeks after their conclusion, we find that both courses did increase actual financial knowledge and the results also aligned with participants’ realistic assessments of their own financial skills. A follow-up study also reveals the persistence of these effects three months later for the traditional course.

Keywords: Financial literacy; Perceived financial literacy; Financial education; Field experiment; Generation Z; Financial Technology (search for similar items in EconPapers)
JEL-codes: D14 G53 I20 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0167268121005096
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:194:y:2022:i:c:p:300-318

DOI: 10.1016/j.jebo.2021.12.001

Access Statistics for this article

Journal of Economic Behavior & Organization is currently edited by Houser, D. and Puzzello, D.

More articles in Journal of Economic Behavior & Organization from Elsevier
Bibliographic data for series maintained by Catherine Liu ().