Current data from the Department for Education Official Statistics sets the average UK graduate salary at £38,500.
However, with the escalating cost of living, an alarming 47% of British youths aged 18-35 have been found to have no savings, as reported by Gen Z insights provider Prograd.
This leaves a considerable segment of young Britons exposed to financial unpredictability.
Nonetheless, a number of UK entities have come to the fore, committed to improving financial literacy among the youth, thereby making the realm of personal finance both approachable and stimulating.
Here’s a glance at their contributions:
- Prograd
Prograd is a financial literacy platform dedicated to guiding young professionals through the complex world of personal finance.
With an emphasis on practical advice and real job opportunities to help earn more money, Prograd’s platform has a whole host of resources tailored to the unique financial challenges faced by young people.
From saving for their first home or learning how to make money from home, the platform serves as a guide for those looking to make informed financial decisions early in their careers.
- Doshi
Doshi sets itself apart with its innovative melding of financial education and gamification.
Its compelling app offers users gamified educational experiences and contests, delving into the basics of financial operations such as setting up savings accounts and the nuances of property acquisition.
Doshi’s objective is to unravel the complexities of financial education, making it a captivating and accessible venture for individuals of varied ages, thereby facilitating a journey towards financial self-sufficiency.
- Your Juno
Striving to narrow the gap in financial literacy among genders, Your Juno delivers customised financial guidance to women and non-binary persons.
Initiated by Margot and Alexia during the global pandemic, Your Juno caters to the distinctive financial education needs of its audience through their different life stages. The platform is crafted to instil financial knowledge and confidence, enabling users to pursue their aspirations and bolster their fiscal health with a solid foundation of independence and agency.
- MoneyWhizz
MoneyWhizz is acclaimed for its holistic approach to financial education, focusing on the youth and educational establishments throughout the UK.
By hosting workshops, offering online materials, and facilitating interactions with financial authorities, MoneyWhizz arms young individuals with the tools required to grasp and adeptly manage their finances. The platform spans a broad spectrum of subjects, from elementary budgeting skills to advanced investment techniques, all aimed at cultivating financial acumen from a tender age.
- FinLit
FinLit is on a crusade to redefine personal finance education through the leveraging of technology.
The platform presents a variety of online courses and resources intended to demystify financial concepts for young adults. Whether it’s understanding tax obligations, credit scores, or planning for retirement, FinLit’s user-friendly content and platform design make financial education an empowering journey for the digitally inclined youth.
These five organisations are leading the push towards greater financial literacy for the younger population.
By harnessing technology, embracing inclusivity, and employing creative teaching strategies, they are not only imparting knowledge but also encouraging a new generation to confidently manage their financial futures.
