Young people today lived through the 2008 recession and its aftershocks. I can tell you now, the words ‘global financial crisis’ do not tend to build financial confidence. The numerous disparaging avocado toast editorials in the national press also tend to make young people collectively want to switch off.
But you need to be paying attention.
In 2017, a third of under-35-year-olds surveyed by ASIC said I have difficulty understanding financial matters. 26% of couples with children at home said the same. Meanwhile, nearly half of single respondents living at home with their parents (48%) and again couples with children at home (45%), said Dealing with money is stressful and overwhelming.