Education is one of the most powerful tools available to our society; it has the capability to radically change people’s lives for the better in ways we can’t even imagine. While all facets of education are important in their own ways, financial education is arguably one of the most crucial subjects for people across the globe. Financial education empowers, enlightens, and inspires — and it’s a subject that ought to be accessible and comprehensive for everyone who wants and needs it. Unfortunately, though, that really isn’t the case, especially for younger generations.
There are two main things getting in the way of young people learning quality financial literacy today: a lack of accessibility and an outdated approach to teaching this essential subject. For all too long, most school subjects have been taught in the same drawn-out way; from lecture halls to high school classrooms, crucial real-life wisdom has been imparted in a way that simply doesn’t stick with today’s digitally-native youth. On top of that, financial education isn’t even offered at many schools, putting certain students behind others at the starting line of their financial journeys. Luckily, there’s one easy way to address this concern — but first let’s take a closer look at the younger generation’s preferences.
In addition to other factors, the internet and all it has to offer has contributed to Gen Z and Millennials’ rather short attention spans; Gen Z’s rings in at about 8 seconds and Millennials’ comes in around 12, and it’s related to the increasingly common short-form content available online. People these days prefer digitized, effortlessly-accessible, easily-digestible information and entertainment, and they tend to gravitate toward learning new things in the same way. So how do we teach as crucial a subject as financial literacy to a group of digitally-native, easily-bored young people?
Meet them where they are in a way that works for them! Digitized, short-form lessons are rapidly taking over the world of learning — from the workplace to everyday life, bite-sized lessons are proving to be a more successful educational tool than the traditional ways of the past. Sometimes called microlearning, this tactic has been instrumental in reaching hundreds of thousands of young adults and teaching them all about the importance of adequate financial literacy.
To learn more about bite-sized learning modules on financial literacy, and how they can help your credit union reach the youth in your area, request a demo with Zogo today!