Playing to learn: Game-based approach to financial literacy for generation Z

Abstract

This quantitative study assessed the effectiveness of game-based learning in improving financial literacy among Generation Z. Conducted with 32 urban participants, the study involved the use of a board game and a mobile application, designed with input from financial literacy experts. Participants underwent a pretest to gauge their initial financial knowledge, engaged with the game, and completed a posttest to measure learning outcomes. Statistical analysis, including paired sample t-tests, compared pretest and posttest scores, revealing a significant enhancement in financial literacy post-gameplay. Furthermore, a questionnaire evaluated user satisfaction regarding the game, assessing metrics like enjoyment, ease of use, and perceived usefulness. Results demonstrated not only an improvement in financial knowledge but also high satisfaction among users, indicating that game-based learning can be a valuable tool for teaching financial concepts to Generation Z. These findings contribute to the understanding of game-based learning’s potential in financial education and provide insights for educators and parents. However, the study’s limitations suggest areas for future research to explore and refine the use of educational games in financial literacy.