Why young adults
There are around 1.25 million young adults Not in Education, Employment or Training (NEET) in the UK. These young adults are at a key life stage and are likely to be managing their money for the first time. Being financially capable is an important life skill for young people and a key factor in improving their economic wellbeing. However, research tells us this group has a lower level of financial capability than other groups. The NEET group is also a high priority for government and local authorities.
Our vision is that:
- all major organisations providing services to young adults will give their clients basic financial guidance;
- these organisations will have easy access to high-quality training and materials to help them; and
- they will be equipped to use creative and proactive techniques to overcome barriers to communicating with young adults about their money.