Financial education enables young people to develop the knowledge, skills and attitudes towards money so that they can make informed financial decisions and thrive in today’s society. Without the skills built through financial education, young people are at risk of financial difficulties, exclusion and debt.
Young Adults’ Financial Capability
By Money Advice Service
Young adults were both more likely to have financial goals over the next five years (69%) and to have plans to achieve those goals (41%) (compared to all adults aged 18+)
69% of young adults reported having financial goals over the next five years (compared to 53% of all adults aged 18+)
41% had plans for their financial goals (compared to 36% of all adults 18+).
Young adults had the lowest levels of financial confidence compared to other age groups. Only 45% rated themselves as ‘very confident’ (compared to 58% of all adults aged 18+)