Discover how ING collaborated with Norstat to gain insights into the financial habits of young people in the Netherlands. Their overall objective is to assist over 1,000,000 young individuals based on the project’s findings.
After graduation, youth start working, studying and possibly leaving home to live on their own or in dorms. It is the period in their lives when they come to stand on their own financially. And that can sometimes be challenging, research from 2019 shows that 1 in 5 young people aged 18 to 26 face serious payment issues.
To gain insight into the financial lives of young people, ING launched the “21 from 21” project, in which 21 young people aged 21 regularly give their opinions during sessions at ING’s headquarters in Amsterdam.
For this project, it was important to involve young people from various layers of society. Our experienced project managers got to work for ING to find young people willing to have their transaction data tracked for a year and receive tailored financial advice based on it. Indeed, each participant was paired with a financial coach with whom they could share their experiences and from whom they received tips on how to stay financially stable.
In total, a 3-hour session took place every quarter at ING’s headquarters where participants attended short workshops and discussed their financial concerns over dinner with ING employees. In this way, ING not only learned from the youth, but the youth also gained financial knowledge that will help them for the rest of their lives. To wrap up the project, the participants attended a Streamers concert in Gelredome together.
ING aims to use the insights from this project to reach 1,000,000 young people in the Netherlands and support them in their financial skills.
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