- more than half of students hold a bank account, but almost two thirds do not have the skills to manage it and cannot interpret a bank statement.
- around one in four are unable to make simple decisions on everyday spending.
- Only one in ten understands income tax.
“Young people today face more challenging financial choices and more uncertain economic and job prospects given rapid socioeconomic transformation, digitalisation and technological change; however, they often lack the education, training and tools to make informed decisions on matters affecting their financial well-being,”
Should you be worried?
If money matters to you, you should be prepared. Before you have money in your hand – you should know how to make good use of it. The more money you have or are likely to have, the more the preparation. If you do not learn how to make money work for you, you are most likely to end up working for money.
So, how to prepare? Where to start?
Right here – Kaleidoscope T&D is founded by financial literacy expert who specializes in financial literacy for kids, teens and young adults. Order and read our books. Or learn here online in Real World IQ.