As part of the FinaLY Erasmus+ project, an in-depth research study was conducted in Cyprus and Ireland to assess young people’s financial knowledge, behaviors, and learning needs.

Our Synthesis Report, based on desk research, over 330 survey responses, and focus groups with over 36 young people aged 18–35, reveals critical findings:

· Strong understanding of theoretical concepts like inflation and risk-return

· Less than 14% of respondents had formal exposure to economic theory.

• Weakness in applying concepts such as compound interest and debt repayment
• Interest in daily money management outweighed interest in long-term planning.
• High levels of financial caution, especially toward investment products
• A clear need for hands-on, real-life financial education

The study calls for practical training tools, including budgeting exercises, credit management simulations, and digital security awareness. It also emphasizes the importance of confidence-building in financial decision-making.

Read the summarized report to explore how youth in both countries perceive and manage financial challenges, and how we can better support their journey toward financial independence.