Saving is “sexy” to young people

Posted 2008-04-23

A savings expert has claimed that saving money has become "sexy" for young people and that mass-consumerism is beginning to wane in todays society.

Emma Byrne says new research shows that 18 to 34-year-olds see saving as a higher priority than those over 55.

She also noted that around a third of Brits are putting spare cash they have at the end of the month into a savings account and urged those who arent to look for a high-rate interest account to and take advantage.

"I think we are seeing a propensity for people to save more and the younger generations – 18 to 34-year-olds – are actually increasingly seeing saving as more of a financial priority for them, more so than over 55 year olds," Ms Byrne said.

She went on to say that consumers are a lot more frugal with their funds as the have it all society is no longer as strong as it previously was.

Recent research from Kaupthing by Opinium Research found that men required an average of £101, 999 to be financially secure, while women needed £82,193.

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