Financial literacy is plummeting.
Despite personal finance being on the UK's national curriculum, an astonishing 58% of teenagers believe it's not taught properly.
24% of 18 to 30 year-olds in the UK are in chronic debt - a figure that is only increasing year on year.
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!).
Young people today face a debt epidemic, driven by poor financial literacy and a lack of financial education.
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.
Depressing, isn't it?
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 a basic grasp of economics, many teenagers are at risk of financial insecurity and will let great opportunities sail right past them.