Young Brits 'thinking more about saving'

The recession has made young adults think carefully about their personal savings, it has been claimed.

Wendy van den Hende, chief executive of the Personal Finance Education Group, said that despite the pressures of modern society pushing them to spend, the recession has taught them the real value of money.

"There is so much stuff in the news about the dire state of the nation that it would be very difficult for young people not to be tuned-in to the need to be thinking about their finances," she claimed.

Ms van den Hende claimed sensible saving is more important than ever, with young people faced with higher demands as first-time buyers, and the need to save sizeable pension pots for the future.

"The thing which means they are able to save more than other people is that they haven't yet got into the family situation... so they've got more disposable income," she added.

Her comments came after Santander reported that younger savers are putting more away for the future than older generations.

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2010-06-10 13:01:23 © Moneyextra.com