Tuesday, September 26, 2023

Young people and savings in the age of inflation

Net worth today is lower than 20 years ago. 30% of young people under 29 years of age cannot find a job (even in positions for which they are overqualified). And of those who have achieved this, 60% have signed a temporary contract and 80% earn less than the minimum wage (below 2006). With these numbers, only 15% will be free and independent.

On the other hand, the generations to come (the zetafor example), they already believe that they have a better relationship with money than their parents and they are better prepared to face a crisis than their parents at their age.

“My parents had no need, nor did anyone with financial culture or financial education send it to them,” defended a young man from generation Z in an interview with Business Insider in Spain.

However, we are still below average in financial education surveys. the youth storage capacity somewhat limited once they stop living with their teachers, short-termism has become the Achilles’ heel of managing personal finances in Spain and financial training continues to carry more weight at home than in the room -classroom.

With this backdrop, Business Insider in Spain together experts in personal finance, macroeconomics and financial entities —with the collaboration of Evo Banc and Banco Mediolanum—to target and study the financial needs of the generations who want build healthy finances and make Spain once again a country for young people.

The event will take place on Tuesday, September 26, between 5:00 pm and 7:00 pm. It will be managed by the CEO of Axel Springer Spain —publisher of Business Insider in Spain—, Manuel del Campo; the editorial director, Yovanna Blanco; Editor of Macroeconomics Business Insider in SpainInma Benedito, and the editor of Personal Finance, Kamila Barca.

What topics will be discussed at the Money Insider event about young people and savings?

These are some of the questions that will be discussed at the second Money Insider event of the year on the relationship of young people to savings and, in particular, financial planning, organized by Business Insider in Spain on September 26 between 5:00 pm and 7:00 pm:

  • Financial education: the importance of passing on the principles of money to children, the importance of financial education in families and schools, games, techniques and tools to teach the little ones to save and manage money.
  • Macroeconomic Context: reflection on financial education in Spain on macroeconomic figures and consequences for the Spanish economy and pockets of residents.
  • From theory to practice: situation in the financial market, tools to create saving behavior and develop interest in money management, financial products and opportunities.
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