Exploring the Influence of Social Media on Financial Literacy among Millennials and Assessing the Gender Gap

Exploring the Influence of Social Media on Financial Literacy among Millennials and Assessing the Gender Gap

T. VEDA MOUNIKA

Guide: Dr. Dhilipan C

Post-Graduate Student – MBA, CMS Business School, Jain Deemed to be University, Bengaluru – 560009

ABSTRACT:

The purpose of this study is to investigate how social media influences financial literacy among millennials, as well as to analyze the gender difference in financial knowledge and behavior within this group. Given the increasing integration of social media into millennials' daily lives, these platforms have the potential to significantly influence their understanding of financial matters. The study will examine how social media content, interactions, and trends influence millennials' financial knowledge, attitudes, and behaviors, particularly in detecting gender differences in financial literacy. Data on millennials' social media usage patterns, financial awareness levels, and attitudes toward money management will be gathered using a combination of quantitative surveys and qualitative interviews. The purpose of this research is to identify links between social media exposure and financial literacy results, as well as disparities in financial behaviors across male and female millennials. Finally, the findings will help to better understand the impact of social media on financial literacy and suggest ways for closing the gender gap in financial awareness and decision-making among millennials.

Keywords:  Social Media, Financial literacy, Millennials, Gender gap, Financial Knowledge, Financial Behavior, Social media influence, Financial attitudes, Financial management, Financial decision-making, Social media content