Are Generational Differences Shaping Financial Literacy? Evidence from Distance Education Graduate Students

Abstract

Financial literacy has become a critical skill for individuals in the face of increasingly complex economic conditions. The aim of this study is to examine the financial literacy tendencies of students enrolled in non-thesis master's programmes conducted through distance education, based on different generational groups. Using a cross-sectional survey design, data were collected from 302 students through a personal information form and the Marmara Financial Literacy Attitude and Behaviour Scale. The data were analysed using descriptive statistics, t-tests, and one-way ANOVA. The findings revealed significant differences between generations. Female students in Generation X have a higher level of financial literacy than their male counterparts. Generation Z public sector employees demonstrated higher spending awareness than their unemployed peers. In Generation Y, financial responsibility, spending awareness, and financial tool usage increased with higher income levels. In Generation Z, high income is associated with stronger financial planning behaviours. Technological competence is also an important factor. Advanced technology users exhibited higher levels of planning and consumption behaviours. It has been found that members of Generation Y, who spend a significant amount of time using technological devices on a daily basis, exhibit higher levels of financial planning and consumption behaviour. The results highlight the necessity of generation-based and technology-supported financial literacy programmes.