Good health, job security and owning a home are the strongest markers of success for young people in Ireland, according to Bank of Ireland’s new Youth Mind and Money report.
The survey of 543 people aged 13 to 30 explores attitudes to money, mental health and happiness, offering a snapshot of the pressures shaping young lives today.
A clear link emerges between well-being and financial stability, with 70 per cent saying they feel better mentally when their finances are in order.
For teenagers aged 13 to 18, parents still shape attitudes
For teenagers, happiness is rooted in social connection, and spending time with friends and family ranks highest, along with having some money to spend or save. Academic achievement is the strongest marker of success, at 59 per cent, followed by being healthy, at 55 per cent.
Parents remain the biggest influence on teens’ financial outlook. Three-quarters say their parents’ attitudes to money shape their own, and nearly half share similar financial goals. They also favour face-to-face guidance when seeking financial advice.
For 19 to 24-year-olds, health first, future later
Young adults are the least focused on long-term saving, with 74 per cent saying saving is important, which is lower than both teens and 25- to 30-year-olds. Although 82 per cent recognise the benefits of saving, just over half are focused only on the next six to twelve months.
Good health is the strongest indicator of success for this age group, followed by job security. Travel remains a major aspiration, with 43 per cent of respondents saying that the ability to explore the world represents success.
Stress, social media and rural differences
Stress remains widespread, with 56 per cent regularly feeling stressed. Social media’s impact is viewed negatively by 77 per cent, rising to 82 per cent among teenagers. Yet almost a quarter trust it more than traditional media.
Rural young people are less comfortable discussing mental health, less optimistic about AI, and less likely to invest, often relying on friends for financial advice.
Commenting on the findings, Rory Carty, head of youth and customer segments at Bank of Ireland, said the report shows “a strong link between financial control and wellbeing,” as well as the continuing influence of family. He added that the bank is investing in support tailored to younger customers, from savings tools to in-person advice.
For more information, visit boi.com/youthmindandmoney
