New research has shown that young people are finding it harder than ever to build up savings.
According to the Pension and Lifetime Savings Association young people, aged 18 – 35, want to save but find their ability to save “curbed by short term necessity”.
The research of nearly 1,000 young people, also concluded that:
51% of young people get more satisfaction from saving than spending money
A similar number, 53%, disagreed that young people tend to live for today
Perhaps surprisingly, more than half (57%) of the people surveyed said they ...