Young people urged to save
4.09.2008
Young people who get into a habit of saving money are likely to continue to do so later in life, it has been claimed.
Research from Nationwide Building Society found 56 per cent of those it surveyed said they saved when they were children, of which 71 per cent continue to put money aside on a regular basis.
The company also discovered that 92 per cent of people who put money in their savings accounts as children believe it helped them to better understand the value of money.
Matthew Carter, director for savings at Nationwide, said: "Starting the savings habit young is important and clearly influences consumers' propensity to save in later life."
Savings expert Emma Byrne recently said that people between the age of 18 and 34 are increasing the amount of money they save, stating that it is becoming a "priority for them".
She said it was "almost as if saving is becoming sexy again".
Research from Nationwide Building Society found 56 per cent of those it surveyed said they saved when they were children, of which 71 per cent continue to put money aside on a regular basis.
The company also discovered that 92 per cent of people who put money in their savings accounts as children believe it helped them to better understand the value of money.
Matthew Carter, director for savings at Nationwide, said: "Starting the savings habit young is important and clearly influences consumers' propensity to save in later life."
Savings expert Emma Byrne recently said that people between the age of 18 and 34 are increasing the amount of money they save, stating that it is becoming a "priority for them".
She said it was "almost as if saving is becoming sexy again".