Many people say they never learned how to manage money in school. And the data backs them up.
We hear comments like:
- “I didn’t know missing one phone bill could wreck my credit score for six years.”
- “Nobody explained compound interest to me. I thought credit cards were free if I paid the minimum.”
- “I signed up to BNPL because all my friends were, not knowing it could get me into serious trouble.”
A 2023 Money and Pensions Service survey found that 47% of UK adults don’t feel confident making financial decisions.
Young people are particularly exposed. Over half of 18–24-year-olds admitted they had used Buy Now Pay Later without understanding the consequences for their credit file.
Only 38% of UK teenagers said they were taught anything about budgeting, interest, or debt at school.
If you’re feeling overwhelmed juggling debt that is becoming a problem, get in touch. We will talk you through your options. A debt product might not be required.
