Furthering its mission to make payments easier for people so they can be financially healthy, Klarna, the U.K. payments company, announced the launch of Mindful Money, a digital content hub.
In a press release Tuesday (April 16), Klarna said the hub will be home to personal finance tips and ideas that come from third-party contributors chosen by Klarna. Content on Mindful Money will cover saving, spending, and living. Klarna said money-making expert Money Magpie and leading journalist Daisy Buchanan are among the first wave of contributors.
New research from Klarna found that more than half of 18 to 27-year-olds polled think they are more financially savvy than people assume they are, with 65 percent saving for the future. But there’s also a lack of clear and accessible information about money management for the younger generation. The survey found 69 percent of survey respondents think terms and conditions of products aren’t clear, while two-thirds of young adults in the U.K. don’t know which sources to trust and believe.
The survey also revealed that 42 percent of those between the ages of 18 and 27 find it hard to track their financial commitments with budgeting and spending — saving for and purchasing a house and paying bills are the top three areas young people want help with.
“It goes without saying that the financial security of our customers — no matter their age or circumstance — is very important to us. We all have a responsibility, especially to young people, to help them spend and save safely,” said Luke Griffiths, U.K. General Manager at Klarna, in the press release. “We’re committed to being open and transparent about how our products and services work, and are always looking to find new ways to give our customers more choice and control in managing their finances — Mindful Money is born out of that mission.” The executive went on to note that Klarna’s research shows that 54 percent of Gen Z and Millennials also want more sources of agenda-free information. He said launching Mindful Money is aimed at creating a platform for conversations about money management. “No preaching or jargon, just an open community for people to access helpful tips and ideas from our great range of contributors,” said the executive.