96% of young adults are worried about their finances
Futureproof, a brand new report and podcast from Bud, explores the complex relationships between young people and their money as they search for financial confidence
Our relationship with money is not a simple one. Despite technology providing new avenues to access financial control, and more data to share, it’s a landscape that — for most of us, anyway — is cluttered and complex.
At Bud, we wanted to get to the heart of this relationship. To do this, we embarked on a six-month study into a new financial landscape. One group that emerged as a key focus were young adults: many felt anxious, but retained a sense of optimism as they looked towards the future.
Download the Futureproof report
Shaped by a housing crisis, a new paradigm of flexible work and increasing issues around access to financial education, this is a generation attempting to navigate an entirely new set of challenges and opportunities to those before them. We wanted to learn more about the attitudes and behaviours that have evolved out of these unique circumstances.
The result of this is Futureproof: a brand new study into the complex relationships between young people and their money.
Ed Maslaveckas, CEO and Co-Founder of Bud, said:
“Our generation is facing its own set of new problems which are indicative of the times we live in, with young adults in particular let down by the systems designed to support them.
“Pair this with a desire to achieve, and demonstrate, perfection in an endless cycle of triumphs on social media and a growing mental health crisis among young adults and you’re left with an environment increasingly difficult to navigate.
“These insights not only provide a basis for the Futureproof series — they will also be fed directly to our product development team to ensure human insights remain at the centre of what we do here at Bud.”
Putting people at the heart of product is something that has been part of Bud’s mission statement from the outset — and Futureproof is a real-world manifestation of this.
Using these findings, banks, financial service providers and fintech companies can begin to understand this complex demographic in a way that helps them develop services that truly work for these users. Bud is no different. From Rent Recognition to testing with banks, our technology is driven by a desire to solve the real problems that real people face with their money every day.
Time to dive in
Over the coming weeks, we’ll be sharing podcasts, industry-focused insights and details on our exclusive event series inspired by the project via our channels. If you don’t want to miss them, sign up at the bottom of the page and we’ll send them, directly to your inbox.
The report and first episode of the podcast — hosted by BBC 1Xtra’s Jamz Supernova — are now live. You can check them out here.
“96% of young adults worry about their finances”
“63% say they are very optimistic about the future”
“1 in 4 say they already spend more time managing their finances than they want to”
