Financial Literacy among Gen Z. A special reference to Chennai City

Abstract

Objective: The purpose of this study is to examine the factors influencing financial literacy among Gen Z in Chennai city. Gen Z is the respondent born between 1997 and 2012. Methods: Data for this study was collected through a questionnaire from Gen Z, and a convenient sampling method was used for this purpose. Analysis: One-way Anova and Chi-square tests were used to determine the significant  difference and association between independent and dependent variables in financial literacy among Gen Z. Findings: The demographic factors of age and financial attitude, income, and financial behavior are significant at the 5% level. Results: Financial education must be provided to the school students to make them aware of the financial concepts to save and invest for the future, budget their income, manage their debt and credit, make them knowledgeable about risk tolerance within the limit, and make them take a sound financial decision.