Young people want to learn more about money and finance
Despite these gaps in education, experience, confidence and capability, young people want to learn more about money and finance and see the value in doing so. They want it taught at schools, and those who have received formal financial education report higher levels of confidence in managing their finances. Young people look for advice from their family and friends, and our research shows a link between being able to discuss money matters at home and better understanding financial concepts. However, not only is that opportunity not available to all young people, but many young people are also searching for information online, including via social media and through AI tools. Whilst a natural hunting ground for information for this demographic, there is of course an obvious challenge in verifying the accuracy of such sources.
Young people want to know more
- Young people want to know more about finances: 83% of 16–25-year-olds wished they knew more about one or more financial topic. They showed a keen interest in learning more about ‘investing basics’ (40%) and ‘buying a home/getting a mortgage’ (40%). A third of 16–25-year-olds were also interested in ‘understanding credit scores’ (34%), ‘tax obligations and filling’ (34%) and ‘retirement planning/pensions (33%).
- Many are interested in business start-ups and understanding how debt works: A quarter of young people wished they knew more about starting their own business (24%) and student loans and debt management (27%).
Family support and financial education at school help
Which financial topics, if any, do you wish you knew more about?
Investing basics
Buying a home/ getting a mortgage
Understanding credit scores
Tax obligations and filing
Retirement planning/pensions
Budgeting and saving strategies
Cryptocurrency
Insurance
Student loans and debt management
Starting a business
Protecting against fraud
Not applicable - I feel confident about financial matters
Don't know
Other
“Lack of adequate provision in school, so young people whose parents have a good knowledge have a significant advantage.”
Participant in AAT commissioned YouGov online survey with 16–25-year olds in the UK
Where do young people look for answers
- Information on financial matters comes from a variety of sources: Most 16–25-year-olds said they were getting their financial information from their parents or family (47%), via financial websites or apps (33%), from social media (28%) or from banks/financial institutions (28%).
- Many find financial information online: A quarter said they were getting their financial information from YouTube/online videos (24%) and two in five (21%) said they get it from friends. One in seven (15%) also said they were getting their financial information from AI tools such as ChatGPT, Google Gemini, and Microsoft Copilot.
“The influence of social media. Everyone's got a different story about money and finance, and it's hard to know what's good advice and what's just someone's opinion.”
Participant in AAT commissioned YouGov online survey with 16–25-year olds in the UK
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