May 3 2007
Young people and their parents in Britain have been advised to save little and often in order to deal with the financial landmarks reached by young adults, specifically the purchase of a first home.
Research from Engage Mutual reveals that, while the trend among young Britons is to move out later and delay getting wed - partly for financial reasons - the majority of under-25s are still looking to purchase their first home before their 30th birthday.
Karl Elliot, 3GB spokesperson for Engage Mutual, said: "While it is encouraging to see that today's under-25s are not put off by ever-increasing house prices, it is important that they are as prepared as possible when it comes to savings."
He added that parents that look to save money regularly, depositing small amounts as often as possible, will be better prepared for achieving the financial milestones involved as their children grow.
In February 2007, after noting that many Britons are taking on second jobs for financial reasons, Liverpool Victoria also advocated that Britons save "a little and often" in order to provide for the future.
