Young worried about financial future

Almost two-thirds of young people are worried about not having enough money in the future.

Over half (57 per cent) of 12-16 year-olds expect to find it hard or harder to manage their finances when they grow older, and 95 per cent wanted to learn more about household bills and the cost of moving out of home. The research was released to coincide with My Money Week, which highlights the importance of young people gaining financial skills.

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Some 62 per cent are concerned about not having enough money, while almost a third worry about future debt. The Personal Finance Education Group charity, who commissioned the poll of 1,000 youths, said the results demonstrate the desire of teenagers to learn about money. Chief executive Wendy van den Hende said: “As this survey shows, young people are worried about having enough money for their future.”