Young Dutch want more financial education, gov’t intervention in misleading ads

Teenagers and young adults in the Netherlands want the government to intervene in misleading advertisements, especially around the holiday season and sales days like Black Friday. They’d also like more investment in financial education. Many young people have money troubles, and some of that is caused by impulse purchases, according to a study by State of Youth NL, AD reports.

State of Youth NL, an initiative of KidsRights, surveyed over 3,000 Netherlands residents aged 12 to 29 years. A massive 81 percent of them worry about money.

Some of these concerns stem from impulsive purchases, which young people make to feel better or to keep up with others. Many said that they feel ashamed or guilty about their financial concerns.

Intervention in misleading advertisements, especially around shopping days like Black Friday and the holidays, could help with that, the young people suggested in the survey. They also think more knowledge about financial matters would be helpful.

Most of the young people surveyed said they worry about the future and unexpected bills. Home prices, groceries, lending, and interest on student loans were also often mentioned concerns.

Financial worries are most prevalent among girls and young women, and young adults between the ages of 18 and 24. Two-thirds said they struggle to make ends meet, and about 14 percent said this is a monthly occurrence.