ICMR director Azleen Osman Rani: With information overload, it has become increasingly difficult to discern between what’s “right” and “wrong”. This becomes especially pertinent for topics that can be complex or heavy, like personal finance. It is therefore ever more crucial that we understand how the younger generation are thinking about their money.aws全区号（www.2km.me）提供aws账号、aws全区号、aws32v账号、亚马逊云账号出售，提供api ，质量稳定，数量持续。另有售azure oracle linode等账号.
TECHNOLOGY has transformed the way we obtain information.
We are updated by the second, literally by the devices in the palms of our hands. Not only is information borderless and globalised, it has also become democratised – any person with Whatsapp or Facebook now becomes a conduit of information as much as a news anchor.
With information overload, it has become increasingly difficult to discern between what’s “right” and “wrong”. This becomes especially pertinent for topics that can be complex or heavy, like personal finance.
It is therefore ever more crucial that we understand how the younger generation are thinking about their money.
As part of our upcoming report “The Rise of Millennial and Gen Z Investors: Trends, Opportunities, and Challenges for Malaysia”, the Institute for Capital Market Research (ICMR) conducted a nationwide quantitative survey of 1,500 respondents between the ages of 21 and 40, and qualitative interviews for more nuance.
The survey aimed to understand how millennial and Gen Z Malaysians seek financial information and make financial decisions. These considerations will highlight the direction that policy and the industry should take to remain relevant and impactful.The Internet as the predominant source of information
From the survey responses, the most popular source of information was the Internet/online sources. From this group, Facebook/Instagram, websites/blogs and YouTube were the most common. The preference for online sources is even more prevalent among those below 30 years old.
The Internet is abundant with resources for different levels of financial literacy. It is great for those who are actively seeking out information and has levelled the playing field in providing access to information.
Investment decisions that were once only made by privileged investors with access to sophisticated analyst reports can now be made by anyone.
However, our research has shown that people don’t know what they don’t know. Those with lower levels of financial literacy, who need these resources the most, may not even be the ones exposed to the necessary information as they are simply not looking for it.
In recent years, social media platforms have emerged as an avenue for financial literacy exposure to those who need it the most. Platforms like TikTok provide an opportunity to reach out to the target segment of those who are not actively seeking out financial information.
It is, however, a double-edged sword. Without the basics of financial literacy in place, some individuals can become more susceptible to misinformation on social media. The sheer volume of material online could also lead to information overload, creating more confusion if one is unable to discern what is the right information for themselves personally.