Money ad­vice for the young

Marlborough Midweek - - OUT & ABOUT -

For many young adults, mu­mand dad are the fount of fi­nan­cial knowl­edge.

Massey Univer­sity has a longterm study un­der­way track­ing how a co­hort of young adults is pick­ing up their fi­nan­cial ca­pa­bil­i­ties.

The young adults be­ing tracked are 22-28 years old now, so the in­flu­ence of mu­mand dad is wan­ing a bit com­pared to 2012, when the study be­gan.

De­spite that half say they learnt al­most ev­ery­thing they picked up about money in the last five years from their folks.

We’ve heard a lot in re­cent years about the Bank of Mu­mand Dad be­ing the only way young­sters can af­ford to buy a house.

But it turns out the Bank of Knowl­edge mu­mand dad pos­sess is also vi­tal for young peo­ple mak­ing their way.

The young­sters do have nag­ging doubts about whether their par­ents’ fi­nan­cial ad­vice is en­tirely ap­pli­ca­ble for their

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