As many as seven in 10 UK adults are puzzled by financial jargon and those who have heard of phrases often don’t understand their meaning.
This is according to a new Aviva study of 2,000 Brits, which found that those aged under 25 are least likely to feel confused by financial terminology compared to other age groups – however, this may be because younger people are less likely to have heard of as many financial products and terms.
Figures also show that those in this age group are most likely to find it difficult to manage their money – 58% of those aged between 18-24 admit this, compared to just 23% of those aged 55+.
Phoebe Barter, Brand Director, Aviva, commented, “We understand that financial matters can be puzzling and our research highlights exactly this. It’s easy to stick our heads in the sand and ignore something we find complex and confusing. But we also know that when things are resolved and clear, it’s a huge weight off our minds.
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