Most 15-19-year-old respondents rated their financial situation as fairly good or moderate in a joint barometer survey by OP Pohjola, the University of Helsinki and the University of Jyväskylä. Responses to questions measuring financial literacy showed that youngsters are highly - but unevenly - skilled.
Youngsters feel fairly positive about their financial situation, according to "A better tomorrow - the financial literacy barometer for young people", which was published today. Around 41% of the respondents described their financial situation as fairly good and 35% as moderate.
"We know that poverty in families with children is real and widespread, but the survey result could be a sign of high financial confidence in youngsters. Media discussions of the economy highlight greater deprivation and difficulties among young people. On the other hand, individuals may feel that they are doing okay," observes Terhi-Anna Wilska, Professor of Sociology at the University of Jyväskylä.
City residence was a major factor affecting the responses. A total of 67% of youngsters in the Helsinki Metropolitan Area rate their financial situation as fairly or very good, compared to 54% in large growth centres and 51% in smaller localities. Statistics show that living standards in the Helsinki Metropolitan Area are higher than average.
Another positive finding is that young people feel their families are managing fairly (47%) or very (19%) well in financial terms. Almost all respondents were youngsters still living in the same household as their parents.
