Financial Literacy Matters
The survey was conducted in May and June 2025, with over 400 young people aged 14 to 24 from more than 25 towns and cities across the country participating:
- 70% from public and 30% from private schools and universities
- 59% girls and 41% boys
- 4% in 12th grade, 33% in 11th grade, 17% in 10th grade, 16% in 9th grade, 22% in 8th grade, and 8% university students
Key findings:
- 70% of participants have never taken an extracurricular course in Economics, Business, or Personal Finance.
- 90% believe that finance and economics courses should be taught in school.
- When asked to rate their own financial literacy, 57% said “average,” 10% “low,” 26% “high,” and 7% “very high.”
- Main sources of financial knowledge (multiple sources could be selected): 89% rely on family and friends; 65% on social media; 42% on online articles; 39% on school lessons; and only 27% on books or textbooks.
- A majority (around 80%) answered questions on interest and loans correctly, but only about 50% navigated tax and investment questions correctly.
- Despite this, 51% identify “investing” as the most important factor when making financial decisions; 36% would focus on saving, and 13% on borrowing responsibly.
- Top financial goals among the youth include: financial independence, starting their own business, owning a home, funding their education, and securing a well‑paid job.
- Main challenges reported: difficulty saving, difficulty managing a personal budget, and a lack of sufficient knowledge about finance, economics, and investment opportunities.
In summary, the survey attracted curious and conscientious young people from across the country who are well aware of the challenges and knowledge gaps in financial and economic literacy. An overwhelming majority (90%) believe that financial literacy should be taught in school, and more than one‑third stated they want help acquiring deeper knowledge in this area.
In the next phase of the “Financial Literacy Matters” project, we will invite these survey participants to join our “Youth Competition in Financial and Economic Literacy 2025,” so that together we can focus on current case studies and problems and explore potential solutions.