Browsing by Subject "lapsuudenkodista muuttaminen"

The importance of financial capability has been emphasized for the individual and society. There are a variety of financial products on the market from which consumers should choose the ones that suit them. Life expectancy has increased, which challenges the functioning of the pension system. These societal changes have broadened the field of financial capability and increased the individual's responsibility for his or her own finances. The aim of the study is to look at how young adults describe their financial capability learning and how young adults describe the challenges and skills related to the finance after moving out from their childhood home. The study was conducted as a qualitative study and the material was collected by interviewing 11 young adults aged 22–29 with a thematic interview. The material was analyzed by content analysis, and the division of financial expertise developed by Atkinson, McKay, Kempson, & Collard (2006) was also used as an analysis tool. According to the study, financial and money related issues have been learned in various ways in childhood. The financial capability learned at home could be described more comprehensively than those learned at school. Young adults also expressed a desire to increase economics education in schools. After moving out of the childhood home, finance and money related skills and knowledge were learned through new life situations (e.g., periods of unemployment, becoming a parent, buying a home), retrieving information yourself (e.g., the Internet, books, and social media) and talking about money with family, friends, and co-workers. When moving from a childhood home, the skills and challenges of the managing money (e.g., everyday budgeting) and the planning ahead challenges (e.g., applying for social benefits) were emphasized. However, there was a clear change in the challenges after several years of moving out from your childhood home. According to the young people, the focus of the challenges became time-oriented, such as saving and investing, retirement savings and mortgages. Based on the results of the research, it can be stated that young adults learn financial skills in their daily lives, although informal home teaching and formal schooling no longer support learning.