young adults saving more by Finance News Bulletin

Published: 20/12/07

The number of youthful people opening a savings account has doubled in the past six months, a new learn revealed nowadaysAccording to the Birmingham Midshires' Saving Britain report, one in seven people old 18 to 24 opened a savings account between July and September, compared with one in 14 at the start of the summerDespite the positive trend, however, young adults still appear to be lacking in monetary acumen as just one in 20 has switched their account for a better rate in the history three monthsThat compares with the one in 12 over-55s who have made such a move, bolstering the view that big consumers are more savvy with their savings

"With 2007 widely conventional as the year of the saver, the savings marketplace is not only appealing more to novel markets - the younger generation - but we are also noting an increase in group with more savers, particularly older savers - switching accounts to get a improved deal," said Jason Robinson, manager of savings operations at Birmingham MidshiresAlliance & Leicester recently revealed that individual savings have nearly doubled in the past six years to reach £876 billionconditions of use Advertising Resources manufactured goods guides Press releases

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