INSUBCONTINENT EXCLUSIVE:
financial education can transform lives
who make up over 27% of the population, don't learn the way we did
Raised on rapid-fire content, dopamine hits from notifications, and algorithm-curated feeds, their learning style is visual, interactive,
and emotionally driven.Traditional approaches to financial education like the text-heavy courses, jargon-filled manuals, and static
Enter gamification and meme culture: not as gimmicks, but as powerful gateways to financial literacy for a new era.New Language, Old
SubjectFintech apps and financial influencers are using meme-based content to attract Generation Z, using streaks, leaderboards, swipeable
reels, and meme-based content.
Live EventsInvesting applications offer rewards for daily logins and completing financial quests
Instagram and YouTube are filled with short-form videos that demystify complex concepts like SIPs, credit ratings, and compound
interest.Social media has proven to be a successful educational tool, raising awareness and promoting early learning
It is inexpensive, quick, and culturally relevant, meeting Gen Z where they are now.Over 70% of Indian millennials and Generation Z
increasingly read financial material via social media, using memes, popular music, and movie lines to illustrate concepts like inflation
hedging and debt diversification
Informal communication can be more effective and far-reaching than official methods.According to a Bain & Company research from 2024, more
than 35% of new users on wealth-tech platforms are under the age of 25
They are lured to a user experience that seems more like a game than a bank, with reward-based engagement and an intuitive design.While this
demonstrates the success of speaking Generation Z's digital-first language, it also raises a deeper question.But Is It Real
Literacy?Financial literacy is not just about acronyms and investing memes; it involves understanding risk, long-term planning, market
cycles, and behavioral biases.Learning progresses in stages, and social media can help build basic awareness and curiosity at the beginner
stage.However, when used for advanced financial advice, misinformation, unrealistic promises, and performative content can become
dangerous.The rise of "finfluencers" has raised red flags for regulators
In 2023, SEBI issued a consultation paper proposing stricter controls on financial influencers.It called for disclosure of affiliations,
banned unregistered advisers from recommending products, and proposed measures to limit unverified advice
The backdrop: a surge in young investors acting on influencer-driven hype often without understanding the risks.The Way ForwardGen Z should
use memes, reels, and gamified content to build awareness and start learning, but for deeper understanding, they must combine informal
learning with formal education, such as NISM certifications, academic courses, and online platforms like Coursera or Udemy.True financial
literacy involves doing research, applying concepts, and learning from outcomes
Social media is a starting point, but not a full curriculum
Gen Z users should be curious but cautious, exploring, questioning, cross-checking, and not mistaken for expertise.Gamification and memes
are effective communication tools for Gen Z, but their influence depends on their appropriate use.The objective should be to make finance
enjoyable and establish it as a basis
Educating a connected, outspoken, and curious generation requires creativity and ethics, and if the right mix is struck, a generation of
In the hands of the right platforms, they are the first chapter of it.References:SEBI Consultation Paper on Finfluencers (2023):
Initiatives(The author is CEO, Torus Digital)(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own
These do not represent the views of the Economic Times)
