Irish youth put health, job security and home ownership at the heart of success.
Bank of Ireland’s latest Youth Mind and Money report sheds light on what success means to young people in Ireland and how financial wellbeing shapes their lives.
The survey of 543 respondents aged 13 to 30 found that good health, job security and owning a home top the list of success markers.
“The link between finances and mental health is clear, with 70% saying that being in control of their finances positively impacts their mental health”
The findings reveal a strong sense of optimism, with 57% confident about their future. Financial stability is closely tied to mental health, as 70% say they feel better when their finances are under control. Fraud protection is also a priority, valued by 79% of those surveyed.
Parents play a pivotal role in shaping financial habits. Three-quarters of teenagers say their parents’ attitudes influence their own views on money, and nearly half share similar financial goals. In-person advice remains important, with 67% preferring face-to-face consultations for major financial decisions.
Hierarchy of needs
Pictured are Alice Gardiner (18) and Rory Carty, Head of Youth and Customer Segments, Bank of Ireland at the launch of Bank of Ireland’s new ‘Youth Mind and Money’ Report. Photo: Marc O’Sullivan
Distinct patterns emerge across age groups. Teenagers (13–18) link happiness to time with friends (76%) and family (69% ), while academic success is their top measure of achievement (59%). Young adults (19–24) place health first, with 63% citing it as their main success indicator, followed by job security (62% ). Saving is less of a priority for this group, with only 52% focused on short-term goals.
For those aged 25–30, financial discipline takes centre stage. Seventy-eight% say that having control over their finances improves their wellbeing, and 57% express interest in investing. Freedom (66%) and home ownership (56%) rank highly as success markers for this cohort.
Stress is a common theme, with 56% reporting regular feelings of being overwhelmed. Social media is widely seen as harmful to mental health, according to 77% of respondents, rising to 82% among teenagers. Despite this, nearly a quarter trust social platforms more than traditional media.
“Our new Youth Mind and Money report provides a fascinating glimpse into how young people view finances, happiness and wellbeing,” Rory Carty, Head of Youth and Customer Segments at Bank of Ireland.
“The link between finances and mental health is clear, with 70% saying that being in control of their finances positively impacts their mental health. Family and parental influence on money and life decisions is profound, with 67% saying their parents’ attitudes towards money have influenced their own financial habits and decisions.”
Carty added that the Bank is responding with products such as its Smart Start current account, which includes savings options and parental controls, alongside strong fraud safeguards.
“Being able to access advice in person or over the phone is important to younger customers, as well as technology,” he said. “Listening to our younger customers and responding to their fast-evolving needs will help us to build stronger relationships and ensure that our services reflect how they want to bank now and in the future.”
Top image: Allanna Hennessy, Youth Coordinator at Bank of Ireland with Ben Iwegbu (16), Alice Gardiner (18) and Sam McFadden (14), at the launch of Bank of Ireland’s new ‘Youth Mind and Money’ Report. Photo: Marc O’Sullivan
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