Young People Love Money But Hate Finance, Says Research

There may be film stars and singing building society workers in financial adverts these days, but young people find the world of finance remote and hard to fathom, according to new research from the ROAR consortium (see ROAR: Latest Youth Media Research Findings) , released today.

The findings show that while 15-24 year olds spend at least as much as their income (an average £726 per month, of which £345 goes on socialising and non-essentials) they view financial responsibility as alien and undesirable.

With 29% of 18-24 year olds having credit cards, there is obviously an audience there to be marketed to. However, the ROAR research found that while money was viewed as “tangible”, “simple” and “fun”, finance was considered “confusing”, “intangible”, “serious” and “impersonal”.

The research has identified four key areas where problems occur for the young: lack of involvement, fear, fustration/loathing and weak loyalty. A tall order for anyone briefed to sell ISAs to the FCUK generation.

The ROAR youth research project is co-funded by Channel 4, The Guardian & Observer, EMAP Advertising and OMD UK

ROAR: 020 7295 5462 (Trudy Croad, Chairman) www.roar.org.uk

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