FINP076 The importance of financial literacy for young adults (598 words)

This article explains the importance of financial literacy for young adults and how knowledge gaps in budgeting, debt management, and saving can lead to financial difficulties. It uses case studies and provides practical resources to help young people make informed financial decisions.

Facing complex financial decisions, often without adequate knowledge, can be challenging for anyone, but particularly for young people.

A recent government study found that 49% of 18-25 year olds lacked the confidence to make financial decisions, while 94% aged 14-17 believed that understanding money-management is crucial.