London Foundation for Banking & Finance · 2024
The Young Persons' Money Index 2023/24 surveyed over 2,000 secondary school students aged 15–18 across the UK to track financial education delivery in schools and assess young people's financial capability. Key findings show that while access to financial education has risen to 69% (up from 29% in 2015), anxiety about money has jumped to 81% — one of the highest rates since tracking began. Social media and influencers have overtaken traditional sources as the go-to for self-taught financial knowledge, raising concerns about misinformation, while financial knowledge on key concepts such as APR and credit card interest remains patchy.