Teenagers today are unable to budget their finances but are still considering taking out a
The company’s Financial Task Force has found that 44 per cent of teenagers aged 15 to 17 are thinking of seeking a
A further 18 per cent are musing over the idea of a bank
However, out of the teens tested by Axa, 70 per cent failed its budget test.
“These studies emphasise what a huge challenge budgeting can be when you’re still relatively new to managing money and making regular financial decisions,” member of the Axa Financial Task Force Professor Nick Chater said.
He noted that many teens of this age may soon be starting work or heading off to university.
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