Finding yourself having to manage your finances in full autonomy is not an easy task, especially for university students who, at any moment, have to juggle shopping at the supermarket, home maintenance and utilities to pay.
On the subject is the Young Generations Observatory of Flowe, pending BCorp of the Mediolanum Banking Group to reveal – with an investigation conducted by AstraRicerche – some details on what is the financial education of the youngest but above all their relationship with technology and the role that parents play in teaching them how to manage money correctly: 92% of parents would consider it essential to educate their children from an early age!
“I find that the theme of economic and financial education is the key point on which to focus our reflections and our actions since we cannot think of enhancing the financial assets of the younger generations without constantly developing theirs, but also our human capital, that is the set of knowledge, skills, ideas, aspirations and emotions which, allowing them to achieve social and economic objectives, then have natural positive effects on the entire community “he declares Oscar di Montigny, President of Flowe.
According to the data that emerged from the survey, the classic “weekly pocket money” remains the most common educational tool for 25% of parents who would use it as the only way: by doing so, the son is entrusted with the evaluation of the expenditure and any savings! Only 4 in 10 parents – 41% – would choose to adopt a mixed form of money management, providing eventual extra money for the most important expenses! Instead, regarding the management of digital money, i young people often use a debit or prepaid card to make online purchases – 73.8% – or accumulate savings for future purchases – 47.7%.
«Today’s world is increasingly interconnected and digital natives need adequate tools for economic and financial management to their aspirations and needs, designed for a future and not a past society “, he explains Ivan Mazzoleni, CEO of Flowe, and concludes “Also for this reason it is important that young people, for which it is essential to be trained on economic management, savings, financial security, are also aware of the most innovative and congenial technological tools for their needs».
On the other hand, however, it is the mobile bank N26 that has carried out a search to understand how technology can simplify the financial management of young people: more than half of the sample – 55% – claimed to use an app to share bills with friends and among these the most popular are those of N26, Paypal and Bizum (in Spain). In addition, more than a third of the respondents are used to constantly monitor your account and 47% would consider themselves a “serial saver”: in this regard, according to some analyzes, it is estimated that students will save on average 153.56 euros per month during 2022.
AND Andrea Isola, General Manager of N26 in Italy & Southeast Europe, to comment: “In a certain sense, our research offers reassuring signs, as it clearly shows the resourcefulness and resilience of European students, more and more inclined to adopt digital tools to manage their financial life. At N26, we want to support this new generation of more experienced finance students through our features such as Shared Spaces, designed specifically for managing budgets and expenses shared with roommates, or MoneyBeam e Divide the Expenses to facilitate reimbursement when anticipating a payment. However, the research also highlights the financial hardship many students are facing as a result of the pandemic».
Obviously, there are several actions that students can take to save more money: in the gallery you can find out 10 tips to save better while attending university!
READ ALSO: Savings, 6 tips for managing capital responsibly
READ ALSO: How to save? 10 tricks you may not have thought of
READ ALSO: The right tips for saving
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
