A new study by KidsKnowBest, the global leader in understanding and reaching kids, has revealed that financial anxiety is not a distant adult concern, but a present reality for UK children aged 7-14.
Nearly half (46%) children are worried about money and their future and one in four children (24%) are explicitly anxious about basic needs.
Based on a two-phased investigation using a quantitative survey of 1,000 children and in-depth qualitative interviews, the research paints a picture of a generation grappling with a complex financial landscape. To view a copy of the report, please click here.
More than half (55%) of respondents revealed their happiness is impacted by money. 38% say money causes them stress with 50% feeling pressure to save.
Despite this early stress, the research uncovers a strong desire for genuine, real-world financial literacy. 60% believe they understand money, a candid one in three (33%) admit they don't know what to do with it.
Money advice gap with current sources lacking
Parents remain the main source of money advice, according to 88% of respondents. Only 42% think their parents are great with money, highlighting the need for better financial literacy across all ages.
Despite the desire for better information, only 45% agree it is easy to find good advice on money. Just 11% strongly agree.
Meanwhile 47% of 7-14 year olds have turned to the internet for money advice but only 41% trust money advice online. 26% have bought something online without informing their parents.
Crucially, formal education sources are failing to bridge the knowledge gap. 55% feel schools don’t teach enough. 20% say they don’t learn about money at all. Only 19% feel they’ve learned ‘a lot’ in school.
Preference for real life money lessons over influencers
When asked about where they would like to learn more about money, 87% express a clear preference for 'real-life' money lessons over digital sources. 63% would like to learn more from parents, 47% from schools. Despite the prevalence of screens and digital influence, just 20% want to learn more from social media apps and only 14% want to learn more from influencers.
The research also reveals that financial activity is beginning at an early age. Children are engaging in financial activities, earning pocket money though doing chores, but also selling goods, and navigating digital economies, but often without the foundational knowledge. While 44% still use a Piggy Bank, 36% now use online banking apps.
In response to the findings, KidsKnowBest is urging financial brands, educators, and policymakers to urgently develop practical financial education initiatives tailored to the needs and anxieties of the UK's youth.
According to Joel Silverman, CEO of KidsKnowBest: "The care-free childhood many adults will have enjoyed is now a distant memory. Our comprehensive research shows that children can’t be divorced from the anxieties their parents may be feeling in a world of financial insecurity, and continuing cost of living pressures. Yet, critically, this anxiety isn't shutting them down. Instead, it's sparking a deep curiosity and a hunger for practical, human-led learning about money."
He continued: “This is a critical opportunity for the UK's financial sector to step forward. By providing accessible, relevant, and practical financial education, we can empower this generation, transforming their anxiety into informed agency and building a more financially resilient future.”
