A Study of Gamification and Financial Behaviour: The Role of Savings, Financial Planning and Investment among Young Adults

This study attempted to explore the relationship between gamification, interest and habit formation, and saving, financial planning and investment behaviour among the young adults in Vijayawada. All five of the null hypotheses were rejected on the basis of 97 responses. There is a positive relation between gamification and financial behaviours, and interest and adaption of financial habits carry most of the relation between gamification and financial behaviours; increased interest in personal finance is perceived to increase interest and improve financial habits; increased interest improves financial planning; and increased interest and adaption of financial habits carry most of the relation between gamification and financial behaviour. There were few differences by gender, age or education level and low-income participants had lower planning and behaviour scores. The study contributes to a body of literature that focused predominantly on the adoption of financial education and fintech services or trading independently, and suggests that financial tools that leverage on gamification work best when they make engagement into habit.

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