Document Type
Article
Publication Date
11-1-2024
Abstract
Generation Z (born 1997-2012) faces unprecedented financial challenges due to economic upheavals such as the COVID-19 pandemic, rising inflation, and stagnant wages. This study investigates how Generation Z demonstrates financial resilience and adapts through innovative strategies, using a mixed-methods approach comprising quantitative surveys and qualitative interviews. Key findings reveal that digital tools, social media platforms, and financial influencers ('finfluencers') play a pivotal role in shaping Gen Z’s financial behavior, driving a preference for non-traditional investment products like cryptocurrencies and socially responsible investments. Furthermore, the study identifies the rise of 'Loud Budgeting' on TikTok as a significant movement toward financial transparency, fostering community-driven financial education. These findings have broader implications for financial literacy programs and policymaking, particularly in enhancing digital literacy and addressing the unique financial challenges faced by Generation Z.
Publication
European Journal of Management, Economics and Business
Publisher
AMO Publisher
City/State
Kyiv, Ukraine
Volume
1
Issue
3
Pages
39-51
Department
College of Business and Management
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Recommended Citation
Spohn, D. (2024). Financial resilience and innovation among Generation Z in the face of economic adversity. European Journal of Management, Economics and Business, 1(3), 39- 51. https://doi.org/10.59324/ejmeb.2024.1(3).04
