Why Financial Education Matters To You
Low levels of financial literacy tend to lead to poorer choices when it comes to saving and borrowing, and unfortunately England and Northern Ireland rank as two of the worst global performers on everyday numeracy tasks. This impact can be seen through the lack of savings in the UK, with 40% of the working population having less than £100 set aside. We are also encountering an over-borrowing problem, with almost a third of the population reporting signs of financial distress. This lack of financial literacy can lead to to divorce, poor health, depression, and bankruptcy!
Financial education will break the barrier to wealth-building for young adults.
However, it’s not all over. Things can still be changed, we can still help the current generations and change the way for the future generations through financial education. The truth is money touches everything in our lives, whether it's where we eat, what we buy, traveling, going out with friends or negotiating prices, buying a house, job choice, etc. We need to teach young adults how to deal with all these decisions in an educated manner that will help set them for life.
A financially literate society is a wealthier, healthier and happier society!
Our Financial Wellbeing Essentials course is here to help. We want to help young adults understand money in a way that a lot of us weren’t taught growing up, we want to help parents give their children a fighting chance at financial success, Financial education shouldn’t be just for the privileged few but for everyone.