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USING THE INTERNET

While the internet may be a more central vehicle for getting financial information among younger people, it is ultimately used by everyone in our survey. When we looked at the websites that they favour to learn financial information, we found that both age groups look to government and banks/financial institutions (banks/FIs) as the top website choices. Under 35’s rely almost equally on general knowledge websites like Wikipedia, while older internet users are less likely to use Wiki because the accuracy of the material is uncertain. The 20-34 age group just compare what Wiki says to other sites.

When people are looking for financial information to help make decisions, they often seek out online tools. We asked people which tools they find most helpful. Checklists that provide step-by-step guidance about “how to get things done” and Examples that people can adapt to their own circumstances are popular with all age groups. Financial calculators follow close behind, but the kinds of calculators people want changes dramatically with age and events.

Helpful Online Tools

Checklists to follow

46

69

Examples to adapt

49

67

Newspaper, TV,

Financial

etc.

experts (non-FI)

60

50

40

30

Preferred Websites for Financial Information

20-34 35+

General knowledge

20

10

0

Government

Bank or FI

Financial Calculators

Text explanations

Links to helpful websites

Stories from peers

Expertstrategies*

Online video tutorials

Downloadable worksheets

Pop-up definitions

24

27

27

35

44

41

39

46

42

50 50

62

59

57

55

Age 20-34 Age 35+

    • 0

      20 40 60 % Respondents

  • *

    Expert strategies was only asked for age 35+ based on qualitative work.

80

For the age 35+ group, websites that tell them about strategies suggested by financial experts take top place for being helpful, reflecting the “expert-oriented” focus of the older age group. The age 20-34 group would rather get text explanations or links to helpful websites.

The Bondesbury Group

Investor Education Fund Comparative Review of Learning and Key Events for Age 20-34 and 35+

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