Money is apparently a taboo topic for many German youth. About the financial situation is spoken in the clique reluctant. sonotheque.net has more notes
This is demonstrated by the comdirect youth study on “Money and investments”, for which adolescents and young adults between the ages of 16 and 25 were interviewed.
When it comes not to online banking, many young people in finance are surprisingly conservative: they write down their spending and find out about financial issues, mainly at the bank branch rather than on the internet.
Financial situation is often a taboo subject
Only 43 percent of respondents said that they like to talk to friends about their financial situation and financial issues in general. Only diseases that only a third of friends talk about are an even bigger taboo topic. “You obviously do not talk about money. In this country is the reality, so it is not surprising that young people – like their parents – do not like to talk about finance, “commented Arno Walter, CEO of comdirect, the study results.
But he also emphasizes: “It is very important to discuss this topic regularly.” Striking: Young women, it is obviously much more uncomfortable to talk about their financial situation than their male peers: Among the male adolescents, it is after all good Half who is willing to talk with friends about financial topics.
Among the girls and young women, finances are just one-third of the topic of discussion among friends – in this group, finances are even the biggest taboo topic, even before diseases.
Sex, sport, fashion – what teenagers talk about instead
The topic of holidays is particularly popular (92 percent), but many adolescents also like to talk about school or work at 83 percent. Sports (69 percent), fashion (64 percent) and sex and relationships (62 percent) are other popular topics. However, there are also other areas where male respondents are less likely to talk than about their financial situation. These include family affairs (43 percent) and even gossip about celebrities interested only 40 percent.
Digital natives mainly inform themselves in the bank branch
Even though three-quarters of young people and young adults are primarily informed about news on the Internet, this is not true for money-related topics. With 42 percent, the bank branch is the most popular source of information in this area. 39 percent get advice from their families, even if finances are more of a taboo subject. The websites of banks use 35 percent and online financial portals are interesting for 27 percent.
In contrast, the school does not provide sufficient information about money and finances in the eyes of many respondents: 59 percent would give the grade of “financial school knowledge” the grade “poor” or “poor”. Also, one’s own knowledge of finance is rated by 22 percent as deficient or insufficient.
Banking is often done online and on the go
54 percent of the respondents prefer to take care of their banking business on the PC or laptop via online banking. But a quarter of them do that via mobile phone or tablet. However, data security often suffers from the benefits that the Internet offers. 62 percent are willing to disclose their data for the use of these facilities.
The surveyed young people and young adults have an average of 320 euros per month and save about a third of them. But only one in five pursues a specific savings target. First and foremost, it’s about investing a financial cushion. To keep track of their finances, more than half of respondents report their own income and expenditure. 27 percent use a financial app for this purpose.