More than half of young people consider their financial education scarce

Many are the knowledge that a person can learn throughout his life. From skills that will help you in your future work, those subjects that will expand your level of culture or those that you can use in your day to day. It is the case of financial formation, which allows people to understand concepts as simple as economic profitability or are able to understand the clauses of a mortgage.

Do the little ones get the proper training? Should these teachings have the same consideration as other subjects that are passed on to students? At least young Spaniards do believe that they should receive more financial training before facing the management of the economy of their homes, as indicated by the study carried out by Intrum.


Teaching at school

The data is clear. 68% of young people between 18 and 24 years of age believe that their financial formation It is scarce and they would need more knowledge to be able to manage their domestic economy more efficiently. At what point should the teaching of these subjects begin?

Those responsible for this report are clear about it. It is in the early ages when you should start this training. As in any other subject, the smallest are more likely to internalize content and financial habits. A good first step is to instill the importance of saving and make them see that a bad action related to money can have consequences.


A training that focuses on avoiding the consequences of scarce financial training can be seen in the Consumer Payment Report prepared by Intrum. For example, him 28% of Spanish households lives on dissaving (expenses have exceeded revenues in the last 12 months). Another fact that draws attention is that most family groups only saves 5 out of every 100 euros.

This lack of savings ends up making households become indebted beyond what they can face. A situation of which more and more Spaniards are conscious and for this reason our country is positioned among the 6 first of the European Union that believe that the basic concepts should be taught to be able to maintain a domestic economy.

Financial culture

The Intur study is not the first to echo the financial situation in Spain. The report PISA It also echoed the impoverishment of knowledge in this area by young Spanish people. If in 2012 the students of our country obtained a score of 500 points, data that was already below the OECD average, now it has gone to 469.


The PISA report defines financial literacy as the subject that helps students take relationships about their money. To determine the amount of knowledge that students have on this subject, a total of five levels are established, which include abilities ranging from buying tomatoes in bulk to reading an invoice.

The data from the PISA report reveal that Spanish students are located in the Level 2, that is, they have the necessary skills to participate in society. On the other hand, 25% of students under 15 years of age are below this level, which makes it clear that many of the minors in this country do not know how to read an invoice.

Damián Montero

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