Finnish youth report shows rising confidence in financial skills

According to the Nuorten tulevaisuusraportti (Youth Future Report), nearly half of Finnish students surveyed believe they possess good financial knowledge and skills. This marks a significant increase from 2022, when only 37% of respondents reported similar confidence.

The survey, conducted by Nuorten yrittäjyys ja talous NYT ry and LähiTapiola, involved over 6,400 middle and high school students across Finland. The findings reveal a strong correlation between a young person's belief in a positive future and their level of financial self-confidence. Approximately 65% of respondents believe they will have sufficient money in the future.

Gender differences were notable, with 55% of boys reporting good financial skills compared to 38% of girls. Despite the rise in confidence, a large majority—71%—expressed a desire to further improve their financial literacy. While 86% of respondents feel familiar with budgeting, only about half are acquainted with the concept of compound interest.

Family background remains a significant factor in financial education, with nearly 90% of youth learning about money from parents or relatives. Pasi Haarala, CEO of LähiTapiola Henkiyhtiö, emphasized the importance of ensuring that the ability to build financial security is not limited to those who learn these skills at home.