There is a lack of financial awareness among the youngest customers

A fifth of young people can be called financially informed, but one in three is not at all. The situation is worst among elementary school students, information improves with increasing age, according to a representative survey of young people’s financial awareness conducted by K&H in November 2023.

The knowledge of the young age group is quite general. If we imagine a word cloud, it mainly includes concepts such as “money”, “spending”, “savings”, “income” and “bank”. Some also mentioned the term “boredom”, implying that they find the subject boring. However, in general, the situation is a little better than this: the word “finance” itself is known by the majority of young people, but they do not use it in everyday life. Some people also mention basic bank products and product categories, such as “account”, “bank card”, “loans”, “loans”.