As we start a new year, many people will be feeling the financial pressure from the Christmas period. But for young people growing up in a complex financial landscape, the pressures on them are greater than many others.
As the world becomes increasingly cashless, and where a digital divide prevents access to financial products for many, young people need increasing support to equip them with the knowledge and skills to build a healthy relationship with money.
Exposure to financial misinformation on social media, opportunities to invest in cryptocurrency, and scam advertising, young people face financial dangers that didn’t exist ten years ago.
Research has shown that young people are now more at risk from fraud than older people, so it’s unsurprising that 67% of young people do not feel confident planning for their financial future. However, only one in three primary school children and less than half of secondary school children currently receive any form of financial education.
We know that lifelong habits and behaviours around money are formed by the…
