Gamification in Personal Finance: A Global Perspective

Chandan Kumar Tiwari and Abhinav Pal

Chapter 2 in Gamification and Global Business Management:Mapping the Future, 2025, pp 11-34 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter provides a worldwide synopsis of gamification as it pertains to personal finance. This study investigates the incorporation of gamification strategies into diverse digital platforms catering to personal finance management. It demonstrates how functionalities such as goal establishment, progress monitoring, and reward mechanisms effectively captivate users and motivate them to adopt favorable financial conduct. The chapter emphasizes the substantial influence that gamification has on the formation of financial behaviors, such as increased rates of savings, improved judgments regarding investments, and enhanced knowledge regarding finances. Moreover, it delves into the cultural and regulatory factors that impact the implementation and efficacy of gamification strategies across various regions. It underscores the significance of adhering to local laws and regulations and conducting business ethically. Notwithstanding the advantages, the chapter recognizes obstacles including gamification addiction and privacy apprehensions, underscoring the necessity for accountable design methodologies and openness. Anticipating the future, the chapter proposes directions for further investigation and Gamification, urging interdisciplinary cooperation and adherence to user-centered design principles in order to fully harness the capabilities of gamification in fostering worldwide financial inclusion and empowerment.

Keywords: Gamification; Dark Side; Ethics; Privacy; Health; Consumer Behaviour; Fintech (search for similar items in EconPapers)
JEL-codes: D23 M1 O3 (search for similar items in EconPapers)
Date: 2025
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