Financial literacy is plummeting.
The world is wealthier than it has ever been and education has never been more accessible. But despite these enormous advances, financial literacy is deteriorating.
The heart of the issue
Whatever people might say about wage inequality, social mobility or economics, a large part of the problem lies in education: teenagers simply aren’t taught about money.
Not properly, anyway.
Despite personal finance being on the national curriculum, 58% of teenagers believe it's not taught well at all. Economics isn’t even offered by many schools at A-Level, so only a handful of university students study it each year.
24% of 18 to 34 year-olds in the UK are in chronic debt - a figure that is only increasing. Consumer credit debt in the UK is higher than it’s ever been, and now stands well over £200bn (that’s more than the government spends on the NHS each year!).
Shockingly, in one of the wealthiest countries in the world, 45% of men and 51% of women between 18 and 30 have said they either borrow or skip meals while waiting for payday.
All the while, payday lenders have been making a killing as young people struggle under the weight of this "debt epidemic".
The problem doesn’t end there
The world has never been wealthier, more business-friendly and more connected. Numerous studies show that today’s teenagers are highly inclined to start their own businesses and will be the most innovative generation to date.
However, without sound financial judgement and an understanding of how the economy works, many teenagers risk letting great opportunities sail right past them.
That's why we started Nebula.
For more on education, check out our blog.
“An investment in knowledge pays the best interest.”
- Benjamin Franklin
We're currently developing two e-learning programmes. The first tackles the problem of soaring debt and poor financial literacy amongst teenagers. The second, which will be available in mid-2018, ensures teenagers leverage their natural strengths and launch fantastic careers.
#1 The Definitive Guide to Personal Finance 💸
Pre-Sale: £79 £20
Did you know that 24% of UK 18 to 30 year-olds live in constant debt?
Teenagers who complete this course will:
not constantly rely on the "bank of mum and dad" after they leave home;
prepare and stick to budgets;
never fall prey to dodgy credit cards and dubious payday lenders.
- appreciate the value of money and take responsibility for their financial position;
- understand how technology and low-risk strategies can grow their wealth.
Now just £20!
#2 Launch a Future that Excites You 🚀
Pop your email below to be notified when the course goes live.
In the meantime, check out our first course.
Encouraging adaptability in a fast-changing world.
Hi there, I'm an economics and Spanish graduate from the University of Leeds. Over the years I have taught abroad, managed a restaurant and founded a charitable initiative. I currently work on the Civil Service grad scheme, where I'm also completing my chartered accountancy exams. By night I'm working on growing our community here at Nebula.
My dream for Nebula is that current members stay in touch and return in a few years to inspire the next generation of students.
We started Nebula to help students make informed decisions about their futures.
Like Beth, I also graduated from the University of Leeds, where I studied history. I'm now studying law in London before joining a City firm in 2019. I've dabbled in a few things along the way, including working at a digital media startup, interning at an investment bank and studying for a year at the University of Waterloo in Canada.