More than half of Britons are unable to explain the difference between a cash Isa and a stocks and shares Isa, a new Zopa Bank survey suggests.
Nearly seven in 10 people aged 25 to 34 said they did not grasp the difference between a cash Isa and a stocks and shares Isa, while 65 per cent of Generation Z respondents admitted the same.
Across all age groups questioned, half said complicated financial jargon put them off investing and doing more with their money.
The figure rose to 56 per cent among 25 to 34-year-olds, suggesting that the future generation of British retail investors lacks clarity and confidence, not motivation.
Meanwhile, 68 per cent of respondents said they wanted to actively grow their finances and make their money work harder for them, but were deterred by jargon, Zopa said.
