Money advice for the young
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