Survey results

The results of the second year from the MoneySense panel (2008) have been published! A sample of 9,263 young people aged 12-19 from schools and colleges across England, Scotland and Wales were surveyed.

The results reveal that young people are becoming increasingly aware of the challenging economic times they live in, and preparing for their financial futures in ways their parents never did. With more importance placed on the personal finance curriculum in schools, there is evidence emerging of a more financially capable generation.

• An impressive 86% of young people keep track of their money, up from 79% last year.
• 82% reported learning about money at home or at school last year with 77% looking up to their parents for advice on money.
• Over two-thirds (68%) said they knew more about managing money than last year.
• There is more acceptance of debt as a reality in life (30% up from 26% last year).
• It is also encouraging that almost a quarter (23%) would consider the interest rate when thinking about borrowing money, up from only 17% last year.

We will use these findings to inform our own financial education programme, MoneySense for Schools, to ensure it adapts to the changing needs of young people, helping them to leave school with the skills they need to manage their money effectively. We also hope that other organisations involved in financial capability will use the MoneySense Research Panel to inform their own education programmes.

Download the latest report now [PDF 1.38MB]

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You can also access the first year’s findings. The 2007 report identified the benefits of financial education in providing a 'reality check' for the future.

Download the 2007 report [PDF 765KB]

We are currently conducting the third year’s survey (between September and December 2009). These results will be published in early 2010.