Report shows young men more likely to consider investing their money

A report has shown that 62 per cent of men aged 25-30 are more likely to consider investing their money than 40 per cent of women in the same age group.

The Bank of Ireland’s new ‘Youth Mind and Money’ report shows 37 per cent have sought investment advice from social media, versus 31 per cent speaking to a financial advisor.

For people in this age group, the main priority was having freedom at 66 per cent, followed by having their own home at 56 per cent. 60 per cent in this age group see being healthy as a success marker.

For young people aged between 19-24, 74 per cent say it’s important to them, versus 86 per cent of teens and 88 per cent of 25–30-year-olds.

52 per cent in their early 20s say they are saving for the future.

62 per cent say having a secure job is seen as important, while 43 per cent say being able to travel the world is what success looks like to them.

For teenagers, spending time with friends (76 per cent), family (69 per cent) and having money to save and spend (64 per cent) are the top three factors contributing to happiness.

56 per cent of people who took part in the survey say they are regularly stressed out, with 62 per cent of women reporting higher levels of stress compared to 48 per cent of men.

77 per cent said social media has a negative impact on their mental health, increasing to 88 per cent for teenagers. 41 per cent say they would be willing to take a month-long digital detox.