So young, yet already predisposed to saving: this is the profile that emerges from the online survey which involved more than 56,000 girls and boys between the ages of 16 and 25, promoted by Studenti.it in collaboration with Intesa Sanpaolo.
The target? Helping students approaching the world of work to enhance their knowledge of economics and savings with YounGOALS, a financial education project which combines the experience and skills of Intesa Sanpaolo and Studenti.it’s ability to dialogue with the new generations, to make young people more aware of their financial choices.
“Savings management is taught and learned from an early age: it increases our choice opportunities, makes us more independent, contributes to the serenity of our future – explains Andrea Lecce, Director of Sales & Marketing for Private Individuals and Retail Companies of Intesa Sanpaolo – For this reason financial education, transmitted with a playful but concrete approach, as in the case of the collaboration with Studenti.it, has always been at the center of Intesa Sanpaolo’s attention. Over the last few years, one million young people, about 300,000 of whom are under 18, have chosen to open our account, completely free of charge so that they can familiarize themselves with all basic financial services. About 30% of the mortgages are aimed at young people, with favorable conditions to make the dream of owning a home come true. We dedicate our commitment to them to immediately offer the best financial solutions, the most complete support for their studies and, in the future, the most innovative tools to face the challenges of the world of work “.
Italians are a nation of savers and this propensity seems to be present already at a very young age: in fact, the survey participants expressed the desire to learn more, for example, about savings plans for future purchases, insurance and forms of investment in general: topics that are applied in everyday life, but with respect to which, at times, attention and specific information are lacking.
In fact, how much do young Italians know about economics and finance? Here’s what they told Studenti.it.
FINANCE? YOU LEARN IN THE FAMILY – We start talking about savings in the family: this is the main source of information for 36% of the interviewees. For 26% the first notions come from school; for another 26% from digital platforms. The school-work alternation program also plays an important role: 31% of students declared that they had improved their knowledge in the economic field thanks to this teaching method.
SAVINGS PLANS AND FINANCIAL MARKETS: ALMOST 2/3 OF THE INTERVIEWED WISH TO KNOW MORE – Among the topics of an economic-financial nature on which they would like to have more information, the young participants in the survey put savings plans first in order to one day be able to conclude important purchases, such as a house or a car, or to pay for their studies (32%); financial markets follow, with 31% of preferences, while 14% of respondents would like to have clearer concepts relating to the main macroeconomic indicators, such as GDP, public debt and inflation.
WORK AND EARNINGS – What is the best channel to find work and start benefiting from a source of income? 48% of female students and students interviewed have no doubts: attending university and obtaining a distinctive qualification on the market. Funds for young entrepreneurs rank far below, with 16% of preferences, while for 11% post-diploma training courses make the difference. Furthermore, almost 1 out of 3 students already receives a small income, the result of internships, seasonal activities or self-employment; weekly pocket money survives for 13% of respondents, while 57% receive money as a gift from time to time.
SAVINGS METHODS AND INSTRUMENTS – 73% of the survey participants have already started saving: 23% have a booklet, account or savings plan opened by the family; 17% save occasionally, as a reserve in case of unforeseen events, while 15% do so to be able to afford important purchases, such as a trip. Only 27% do not think about putting something aside, because “I am still young and there is time”.
But what tools do girls and boys use to manage their resources? 24% of the interviewees use a prepaid card, 22% mainly use a bank current account and another 12% a postal current account: 42%, on the other hand, do not have any tools to manage their finances.
PURCHASING METHODS AND TOOLS – When it comes to payment methods, cash still remains the main tool: 39% of respondents prefer it, while 19% opt for contactless mobile apps. 18% use debit or credit cards and another 18% mainly use prepaid, against 6% who use Internet banking features. Only 31% of respondents plan their monthly expenses in a structured way, while 47% do not think about it and live for the day.
THE MANAGEMENT OF A BUDGET – Finally, most of the participants believe that trips away from the family represent the first test bench to measure themselves with the management of a budget: not surprisingly, for 46% the main objective is to better plan the expenses for do not risk running out of cash, while for 21% the priority is to insure against theft, accidents and other unforeseen events.
Results that attest to the need for a targeted and innovative education path, to which this project responds, in a learning context that is increasingly social and digital.
The survey made it possible to identify the topics of greatest interest and to develop a rich schedule of contents, updated weekly and available in the form of in-depth articles and podcasts on the Studenti.it website: from methods for correct savings management to tools for effective spending planning, from ways to conclude online purchases to ways to protect yourself from scams. And then space for forms of insurance and the most widespread types of financing for study trips and training, up to the search for first earnings, the sharing economy and sustainability.
The project also focuses heavily on the Youtube channel and on the brand’s social profiles – from TikTok to Instagram and Facebook – where the creators are alongside the kids with educational video-pills and interactive content, designed to support them in their growth path.