Dutch teens struggle with money management as costs and temptations rise
Many young people in the Netherlands find it hard to manage their money, with social media temptations and lack of financial awareness leading to quick spending. Events like Money Week aim to educate teens on saving and budgeting before financial habits become ingrained.
| Key Fact | Details |
|---|---|
| Event | Geldfit event at Stellingwerf College during Money Week |
| Location | Oosterwolde, Fryslân |
| Age Group | 12-18 years old |
| Common Misconceptions | Health insurance estimated at €40 (actual cost is much higher) |
| Spending Habits | Money often spent on candy, games, food (e.g., pizza) |
| Support Resources | geldfit.nl/jongeren, geldfitooststellingwerf.nl |
| Organizer | Scala Welzijn youth workers |
Scala Welzijn, the organization behind the Geldfit event, plays a key role in local youth welfare by providing financial education and support. The Dutch government collaborates with such organizations to promote financial literacy among young people through initiatives like Money Week.
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Money runs out quickly for many young people
Managing money well is difficult for many young people. “It’s gone too fast,” says 16-year-old Deamen from Oosterwolde. He’s not alone. That became clear during a Geldfit event at Stellingwerf College.
During Money Week, youth workers from Scala Welzijn spoke with students. They used statements and questions about money. What does a full shopping cart or health insurance cost? Many young people were way off. “They often have no idea,” says youth worker Thomas Toersen. “They sometimes estimate health insurance at just forty euros.”
Knowing the cost of things isn’t the only challenge; resisting temptations is too. “I think many young people have money problems because of social media,” says Jinthe (16). “You’re easily tempted to buy something. That’s why it’s good they’re doing this event at school.”
Saving
“I can manage money well,” says Johan (18). “But not everyone can.” His tip: don’t spend everything and save some. “Useful for later, like for your driver’s license or a car.”
Twelve-year-old Niek isn’t thinking about that yet. “I can’t manage money well. It’s gone quickly on candy and games.” Dishanyra (16) recognizes that. “When I get money, it’s immediately spent on food, like pizza.”
To teach young people about money management, there’s Money Week every year. “They don’t think much about money yet,” says Thomas. “They spend it without giving it a second thought. That’s not necessarily bad, but it’s good to talk about it.”
Young people with questions about money or debts can visit geldfit.nl/jongeren. There, they’ll find tips, help, and a test to see how they can save more. Free help is also available at geldfitooststellingwerf.nl, for example during weekly walk-in hours.