Access to financial services and financial education has helped youth (ages 15–24) in developing countries spend less time worrying about finances and more time in school concentrating on creating financial security for their future. Youth are often overlooked as a segment of society needing better access to finance, despite accounting for nearly one-fifth of the world’s adult population and representing three in 10 adults in FII countries that we study. They are less likely than those ages 25 and over to have stable sources of income, making them more susceptible to major economic shocks such as family members’ deaths, medical emergencies, or loss of income sources. Access to financial services and improved financial education can help youth better prepare for their futures and avoid falling into poverty traps that have held back many in prior generations.
Youth Population
Financial Inclusion
Saving
True or false
Youth are more likely to borrow money than save money in FII countries.
Which country has the lowest percentage of youth who are financially included?
True or false
The primary reason youth in most countries give for not having a bank account is that they don’t need one.
Which country has the highest percentage of youth who are financially included?
True or false
African youth are more likely to have borrowed money in the previous year than youth in other FII regions.
True or false
The primary reason that mobile-money-aware youth in Bangladesh and Pakistan report not using a mobile money account is that they don't need to use mobile money.