The relationship of financial literacy and financial dijitalization: A research on generation Z

The concept of literacy is defined as having the ability to read and write a language in the first sense that comes to mind, and it has gained different meanings today. Some of those; media literacy, digital literacy and financial literacy. We can define financial literacy as the process by which individuals reach, interpret and transform financial information into behavior in the financial decision-making process. Today, due to the increase in the number of financial instruments, the complex structures occurring in qualifications and the constant flow of information in the markets, it is not possible to make rational investment decisions as a result of the limited level of information. For this reason, in today's conditions, people need to have more technical knowledge for financial literacy. The use of digital platforms at the point of accessing the necessary information enables faster decision-making while shortening the learning process. When we consider the concept of financial literacy within the financial system; It is seen that it has components such as financial knowledge, financial behavior and financial attitude. In addition, the relationship between the behaviors exhibited in the financial literacy process and digitalization is becoming increasingly important. Although individuals have a high level of financial literacy, insufficient knowledge about the use of digital platforms is seen as an obstacle for financial digitalization to increase financial literacy. In my study, the relationship between the concepts of financial literacy and financial digitalization was examined, and the data obtained from the questionnaire applied to the Z generation individuals were analyzed by establishing a structural equation model and the established hypotheses were tested. According to the analysis, one of the results obtained is that the financial literacy and financial digitalization levels of Generation Z individuals show a significant difference according to gender. In addition, one of the striking results was that there was no significant difference between the financial literacy and financial digitalization levels of Generation Z individuals in terms of their employment status as a child.