Boys more confident in their money skills than girls

A recent report by Junior Achievement Finland reveals that boys feel more confident in their financial skills compared to girls. The study, which surveyed over 6,400 lower and upper-secondary students across Finland, indicates a strong link between overall confidence in the future and financial self-confidence. Young people optimistic about their future rate their financial skills higher than their more pessimistic peers. Only around a quarter of those who doubt their future believe they will have sufficient funds.

Remarkably, nearly half of all respondents expressed a sense of competence when it comes to managing money, a figure that has increased from 37 percent four years prior. Boys claimed a slightly larger share of this confidence, with 55 percent rating their money management abilities as good, compared to 38 percent of girls. Boys also showed a higher interest in financial matters compared to their female counterparts.

Despite this disparity, both genders expressed a desire to improve their financial knowledge. However, young people with immigrant backgrounds were found to be more diligent in tracking and planning their expenditures than their Finnish-born peers. Surprisingly, 89 percent of young people credited their parents, guardians, or relatives as their primary source of financial education. Video platforms ranked second in this regard.

The survey underscores the influence of family background on young people's financial skills, with parents' educational attainment and employment status proving to be significant factors. Overall, the findings emphasize the importance of enhancing financial literacy among young Finns, regardless of gender or background.