Survey finds wide gaps in young Finns’ financial skills

A survey reported by Yle has found substantial differences in financial literacy among young people in Finland. Upper secondary school students answered 73 per cent of the questions correctly, compared with 58 per cent among vocational students.

The survey was conducted by OP Pohjola, the University of Helsinki and the University of Jyväskylä. The most significant factors explaining the differences were the students’ level of education and academic performance.

The 15 to 19 year olds were asked about topics including interest rates, inflation and the diversification of financial risk. Girls performed less well than boys, and boys also had greater confidence in their financial abilities.

Weak financial skills can lead young people to spend more than they earn, become over-indebted and miss opportunities to build wealth, according to Terhi-Anna Wilska, a professor of sociology at the University of Jyväskylä.

“As adults, this can weaken the financial position of the entire family and increase poverty,” Wilska said.

The survey also found that parents’ socioeconomic background affects young people’s financial behaviour, financial security and hopes for the future. Young people from families with lower incomes had weaker financial skills and less confidence in their financial situation than those from more affluent families.

“The overall picture is that young people’s financial literacy is fairly good. What is somewhat concerning are the internal differences caused by the economic background of the family they grew up in and by where they study,” Wilska said.

Wilska said boys are encouraged to think more about money related issues at home and at school. Families, for example, discuss investing and saving more often with boys than with girls.

She recommends increasing financial education, particularly in vocational training. Reaching girls in vocational education should be a key area for improvement.

Parents should also discuss building wealth with their children, rather than focusing only on debt and other financial problems. Wilska said the survey questions covered knowledge that everyone should be expected to have.

The survey involved 2,346 participants from 61 schools across Finland in early 2026. The questions were based on the so called Big Five questionnaire. The survey was first conducted in 2024.

One of the young people who feels confident about financial matters is 17 year old Anni Ryti. Her parents, who are entrepreneurs, began discussing money with her when she was about 12.

“Money has always been discussed openly from a young age. We talked about what buying a new home or a new car actually means,” Ryti said.

Ryti is studying for a logistics qualification at Stadin vocational college and also attends evening upper secondary school. She believes she knows more about financial matters than most people her age.

She says financial issues are not discussed very deeply at the vocational college. One course explains what a payment default entry is, but offers few practical tips or discussion of opportunities.

Ryti would like vocational courses to cover investing and growing savings. She also wants concrete examples of what making a major purchase means and says financial skills courses could be offered to interested students.

Ryti has several thousand euros in savings and has had a share savings account since birth. She saves up to hundreds of euros a month and wants to buy her own home. She is already considering how her choice of career could help her prepare for that goal.