NatWest reveals growing financial awareness among teens

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NatWest reveals growing financial awareness among teens

A new survey by NatWest has revealed that young people are increasingly knowledgeable about financial matters.

The bank surveyed more than 9,000 people aged between 12 and 19 and found that 68 per cent claimed they know more about managing money than they did last year.

Furthermore, the proportion of teenagers who are actively keeping track of their money increased this year to 86 per cent, compared to 79 per cent 12 months earlier.

It was also found that financial aspirations are becoming more realistic. The average youngster expects to be taking home a salary of £53,900 by the age of 35. Last year, they expected to earn £69,500.

"The more exposed young people are to financial issues and the younger they become aware of them, […] the more likely they are to become responsible, forward-planning adults who manage their finances confidently and effectively," commented Maxine Norris, head of NatWest MoneySense for Schools.

Earlier this month, NatWest and RBS announced they will reduce the interest rate on their flexible mortgages by 0.25 per cent on April 1st.

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