K&H: saving is the basis of independence

By: Trademagazin Date: 2024. 05. 08. 11:01

56 percent of young people between the ages of 14 and 18 have some monetary savings, an average of HUF 143,000. Vocational school students and 18-year-olds put most of them aside. Young people hear about finances primarily from their parents, but according to the K&H survey, every second young person would be happy if banking specialists gave them the most important knowledge about financial matters at school.

According to the personal experience of K&H professionals, interest in financial matters is growing among elementary school and high school students – according to their own age – in all age groups. This is well indicated by the fact that this year, surpassing all previous records, more than 12,000 students in 3,000 teams entered the K&H Watch out, it’s ready, money! for a financial quiz. In this school year, the 3-4. 28 in the 5th-6th grade age group. 31 for first graders, 17 for 7th-8th graders and 9th-11th graders. 72 percent more students participated in the competition compared to last school year, which represented an overall increase of 41 percent.

According to the financial institution’s research among young people, 94 percent of 14-18-year-olds already have some kind of income – 58 percent receive pocket money, 8 percent receive a scholarship, and 12 percent receive both. Forty-one percent spend almost all of it—usually on food, clothes, or some hobby.