For many students, university is the first time they have complete control over their own money. Suddenly, they are paying rent, buying groceries and deciding what that leaves for the next big night out. It is an exciting step towards independence – but stumbles are common and falls are not unknown.
The Financial Conduct Authority’s most recent Financial Lives survey shows that, among UK adults aged 18 to 24, 28 per cent reported low confidence working with numbers, and 29 per cent had poor financial numeracy. And although most of those people are probably not students, some of them probably are.
Across the Atlantic, a recent personal finance survey by the Global Financial Literacy Excellence Center suggests that financial literacy is particularly low among Generation Z. On average, Gen Z correctly answered only 38 per cent of the financial literacy questions in 2026, compared with 46 per cent for Gen Y, 49 per cent for Gen X and 54 per cent for baby boomers.
Universities are not only places where students gain technical knowledge for employment. Students are also expected to learn skills beyond their subject, such as academic writing, communication, critical thinking, digital literacy and employability, so that they can become responsible citizens who can contribute to society and the economy.
