Share of children who understand financial terms in the United Kingdom (UK) as of 2014 and 2015
Financial terminology comprehension among children in the UK 2014 and 2015
This statistic shows the share of children in the United Kingdom (UK), who self-evaluated their understanding and ability to explain financial terms as of May 2015. Approximately 56 percent of children in the sample confirmed that they would be able to explain what "loan" and the term "bank account" means.
Share of children who understand financial terms in the United Kingdom (UK) as of 2014 and 2015
Share of respondents
Loan56%
Bank account56%
Debt54%
Credit card36%
Debit card36%
Tax26%
Current account22%
Interest rates18%
Overdraft16%
None of the above17%
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Source

Release date

July 2015

Region

United Kingdom

Survey time period

May 2015

Number of respondents

1,200 respondents

Age group

8-15 years

Method of interview

Omnibus survey

Supplementary notes

Halifax is part of the Lloyds Banking Group.
The question read as follows: "If somebody asked you to explain what the following words mean, which ones, if any, do you think you would be able to explain?".

Financial terminology comprehension among children in the UK 2014 and 2015
This statistic shows the share of children in the United Kingdom (UK), who self-evaluated their understanding and ability to explain financial terms as of May 2015. Approximately 56 percent of children in the sample confirmed that they would be able to explain what "loan" and the term "bank account" means.
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