Nov 24 2005
Financially-aware British teenagers have saved over £107 million since last year but still believe they should receive money management classes at school, says a new survey.
Research by NatWest found over three-quarters of UK 11 to 18-year olds understand that it is important to save.
However, 68 per cent still think financial education is important.
The survey was carried out by NatWest's Face 2 Face with Finance programme.
Sarah Canning, head of the programme, said: "It is really important that we are seeing this positive approach to money amongst teenagers in the UK.
"Having a good understanding of the value of money and a proactive attitude towards saving can only serve them well in the future.
"We strongly believe that learning about personal finance at an early age will help the next generation to make the most of their money."
The survey found half of boys in the UK are saving up for cars, while girls are keener to save up for a holiday.
For a quarter of young female savers, stashing away cash in preparation of a family member's birthday is top priority.
However, only around eight or nine per cent of UK youngsters are planning to save up for going to college or university.
A report this week from London South Bank University found nine out of ten students now borrow to finance their university education and one in five have debts of more than £15,000.
© Adfero Ltd
