Millions of young consumers around the UK would like to be better informed of financial issues, according to recent research from NatWest.
A study by the financial services firm makes clear that around 43 per cent of British teenagers feel they are not being given the tools they are likely to need to manage their money effectively.
With debt management an increasing concern for young people and parents alike, NatWest reports that almost six in ten people aged between 18 and 21 would not heed the financial advice offered by their mother or father.
NatWest’s head of youth banking Mark Worthington said: “The reality of today’s teenagers is that their financial circumstances are much more complicated than that of their parents at the same age.
“Many teenagers are taking on the responsibility of part-time jobs and whilst they want to enjoy some of what they’ve earned they also want to know how to manage money properly.”
Apacs, the UK’s payment association, recently launch a guide designed to help young consumers avoid unmanageable credit card debt.