Pension freedoms, defined contribution pensions, increasing debt, stagnant wage rises, longevity and many other reasons have pushed financial wellbeing up corporate agendas in recent years.
But imagine if every CEO pictured their children falling prey to payday loan providers, PPI calls, that 'no lose' investment tip from someone in a pub or the latest big drive from clever financial marketers. Would this lead to a financial wellbeing rising even more quickly up their agenda?
As parents, teachers, employers and financial educators, we all have a responsibility to build financial resilience in our young people. Not just the sort that means they will build and maintain an emergency savings fund - although that is important. But talking to them about money, raising their financial awareness, removing the complexity, dispelling the myths and revealing the truth so they won't fall prey to financial predators. Our aim should be to give them both the knowledge and confidence to choose between things that are good for them and things that should be quickly ignored. And to provide them with the inspiration and roadmap to establish good financial planning habits from their first job to their last.
Teenagers wrongly approached about PPI By Kevin Peachey Personal finance reporter 14 November 2017 Nearly a fifth of 15 to 18-year-olds have been contacted about PPI claims - despite never having access to the product, research has found. Teenagers are being exposed to financial crime and 62% worry about money, the London Institute of Banking and Finance also found. And the institute, which provides personal finance qualifications, raised concerns about gambling.