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Financial literacy training for Gen Z
CategoriesSustainable News

Financial literacy training for Gen Z

By Zarkon Group,

Spotted: There are worrying signs that a generational gap is opening when it comes to financial literacy. A recent survey by Investopedia, for example, found that only 31 per cent of Gen Z individuals – aged 18 to 25 – said they understood investing. And this age bracket also scored lowest of all the generations surveyed on their perceived knowledge of taxes, borrowing, insurance, and retirement.   

When they do consume financial education content, those in Gen Z rely overwhelmingly on the internet. And in another survey by the Current Account Switch Service in the UK, almost half of respondents between the ages of 18 and 24 reported that a TikTok influencer has helped them make a financial decision. This reliance on TikTok and other social media platforms is worrying given that credible bodies such as the UK’s Financial Conduct Authority have highlighted the dangers of heeding the advice of unregulated social media ‘fin-fluencers.’ 

Hoping to improve the financial literacy of young people is UK startup Prograd, one of several companies leveraging the engaging formats used by social media platforms to provide reliable financial information. 

Prograd’s free platform allows users to create personalised financial targets, and highlights earning, saving, and borrowing opportunities to help them meet those goals. These opportunities range from product discounts and job opportunities to savings accounts and credit cards from partnering organisations. The company’s AI-powered technology performs soft credit checks to highlight appropriate credit products without impacting the users’ permanent credit history. And to make finance understandable, key terminology is explained in simple, jargon-free language.  

In highlighting these ‘paths’ to fulfilling financial goals, Prograd acts as a broker (it may be paid a fee if one of its partners’ products is taken up through the platform). But what sets the startup apart is its slick Gen-Z-friendly user experience and its social-media-like ‘community’ through which users can interact with each other and watch snappy, short-form videos explaining important financial concepts.

In the archive, Springwise has spotted other innovations improving financial inclusion, including a free platform for unbanked communities and a banking platform that’s accessible to everyone.

Written By: Matthew Hempstead

Reference

How Gen Z Designers Are Smashing Conventions With “Creative Self-Exploration”
CategoriesArchitecture

How Gen Z Designers Are Smashing Conventions With “Creative Self-Exploration”

By Zarkon Group,

The next report in Material ConneXion’s insightful series on material trends focuses on the ultra-contemporary phenomena of expressionism among new generations of creators. Following on from their Eunomia report — which revealed insights into designers’ renewed passion for nature as a primary source of inspiration —  their next release is entitled “Creative Self-Exploration”, and covers the rising trend for fluidity and dynamism with regards to everything from identity and aesthetics to occupation and innovation.

Learn More and Access the Full Report

Illustrated with vibrant examples of creative individualism, the new trends “reflect  a  growing  aspiration,  especially  among GEN Z and Alpha, to explore all the components that make up ‘the self’, from physical appearance to existential depth and emotions, overlooking established norms.” They also point towards a new wave of entrepreneurship, with young people breaking free from conventional occupations. Instead, they are harnessing the maturing landscape of social media to create their own opportunities, as well as emerging realms such as the metaverse.

Tiktok Headquarters by Gensler, 9th Annual A+Awards Finalist in the Large Office Interiors category.

In terms of architecture and design, these trends are manifested in avant-garde projects that challenge traditional ideas pertaining to the function, program and typology of buildings. One example is the “Tiktok Beauty Hub”. As described in the report, “Tiktokers now have a creative hub in the heart of LA, hosted by Fenty Beauty, Rhianna’s brand. The concept behind this collaborative space is to help influencers on the platform by offering a fully stocked ‘Make-up Pantry’ in a camera-ready,  creative space as well as community building amongst participants.”

One of a number of innovation concepts in the report is named “Phygital Experiences”, highlighting new investments in “marvelous, magical worlds and bewitching inspirations that boost the imagination” and “immersive and multisensorial experiences that create the sensation of lucid dreaming.” This form of design, with its emphasis on interactivity, engagement and dynamic mediums is undoubtedly permeating architecture and design — one such example is the work of Turkish digital artist, Refik Anadol, whose installation “Quantum Memories” was a recent A+Awards Finalist in the Architecture +New Technology category.

Quantum Memories by Refik Anadol, 9th Annual A+Awards Finalist in the Architecture +New Technology category.

In the report’s ‘Design Ideations’ section, a series of multichromatic mood boards visualizes how the rise of creative self-exploration can be translated into real-world spaces, textures, materials, products and beyond. The bold range of colors, forms and finishes on display encapsulates the overriding takeaway from this report — that emerging creatives are not concerned in the slightest with the social or aesthetic “rules” of prior generations. In fact, they embrace the unconventional, and revel in its unlimited creative potential.

To see the full trend report and receive new material insights each month, become a member of Material ConneXion. Learn more >

Top image: 100 colors no.35 by emmanuelle moureaux architecture + design, 9th Annual A+Awards Finalist in the Architecture +Color category.

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