"Why Our Younger Generation Needs Support with Money and Finance"

As a financial wellbeing planner — and someone who cares deeply about helping people feel confident and empowered with their money — I often think about how different life could be if we were all taught about money earlier. When I sit down with clients in their 20s or early 30s, I see a common thread: so many of them feel like they’re already behind, like they’ve missed some invisible class where everyone else learned how to “do money right.”

They didn’t miss the class. The truth is, it was never offered to them in the first place.

And that’s why I believe, passionately, that we need to better support our younger generation when it comes to learning about money and finance.
________________________________________

1. They're Facing a Totally Different World

Let’s be honest: the financial world today is not the same one their parents grew up in. Housing is more expensive. Wages haven’t kept up with inflation. And the job market is unpredictable — with short-term contracts, gig work, and side hustles becoming the norm.

This generation is dealing with challenges like:

• Student loan debt that averages over £45,000 in the UK¹
• A cost of living crisis that’s putting even basic saving out of reach
• A digital economy where money is increasingly abstract — just numbers on a screen

It’s no wonder so many feel overwhelmed.

________________________________________

2. Schools Still Don’t Teach the Essentials

Despite being one of the most critical life skills, financial education remains patchy in schools. In the UK, personal finance is included in the curriculum for secondary schools — but not consistently, and not in a practical, hands-on way.

The Money and Pensions Service (MaPS)² found that only 38% of 7- to 17-year-olds in 2023 received meaningful financial education at home or school. That’s a huge missed opportunity. How can we expect young people to understand budgeting, saving, or credit when they’ve never been taught?
________________________________________

3. Social Media Sends Mixed Messages

Platforms like TikTok and Instagram are full of financial influencers — some helpful, many not. For every genuinely good piece of advice, there are countless “get rich quick” schemes, hype-driven investment tips, and unrealistic portrayals of success.

Young people need tools to tell the difference between financial fact and fiction. Otherwise, they’re building their money beliefs on shaky ground.
________________________________________

4. Money Stress Impacts Mental Health

I see this every day in my work. Clients who are doing everything they can — working hard, trying to save — but still feeling anxious, ashamed, or stuck. According to a 2022 report by the Mental Health Foundation³, financial concerns are one of the leading causes of stress in young adults.

Supporting them with knowledge and encouragement isn’t just about numbers. It’s about giving them peace of mind, self-worth, and a sense of control over their future.
________________________________________

5. Habits Start Early — So Let’s Set Them Up for Success

The way we interact with money is shaped early in life. If we teach budgeting, saving, and mindful spending in a supportive way, young people can grow up with a healthy relationship with money. That foundation is worth more than any flashy financial product or investment tip.
________________________________________

So, What Can We Do?

As someone who works in this space every day, here’s what I believe truly helps:
✅ Talk about money openly – with your kids, your students, or your younger colleagues. Make it normal.
✅ Push for better financial education in schools and universities. Practical, real-life content — not just theory.
✅ Be a safe space – let young people ask questions without judgment. No one is born knowing what a pension is!
✅ Share your experiences – good and bad. Honesty is powerful.
________________________________________

A Final Thought

Supporting the next generation isn’t about telling them what to do — it’s about giving them the confidence to make informed choices, aligned with their own values and goals.

If you’re a parent, teacher, employer, or mentor — you can be a part of this. And if you’re a young person reading this: know that you’re not behind. You’re just getting started, and I’m rooting for you.
—
Let’s build a future where financial wellbeing isn’t a privilege, but a shared foundation for all.

Sources

¹House of Commons Library, 2023

²Money and Pensions Service (MaPS), 2023

Although the content of the article was correct at the time of writing, the accuracy of the information should not be relied upon, as it may have been subject to subsequent tax, legislative or event changes.