Young adults save 16% more than national average
14 June 2010 16:21:33
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| Young adults lead the way on savings. |
According to savings accounts provider Santander, 18 to 34-year-olds put away 16% more than the national average and 25% more than over-55s.
Each month, a typical young adult puts £134 into their savings account, while over-55s save just £107 on average.
Reza Attar-Zadeh, director of savings and investments, claimed that young people are "really setting the standard".
"These latest statistics prove that the recession has changed people's attitudes to saving and a new generation of savers not spenders has finally arrived."
The expert added that young people are "fast recognising the need to start saving earlier and harder", as the average first-time buyer now has to put down a deposit of almost £33,000.
Men appear to be better at saving than women, as the average male saver has almost £7,000 more in his savings account than the average female saver.
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