Older generations 'could teach the young about thrift'

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Older generations 'could teach the young about thrift'

Mon 21st Nov 2011

There is a lot that the younger generation could learn from older individuals in regard to living thriftily and saving for the future, it has been claimed.

Yvonne Goodwin, managing director of Yvonne Goodwin Wealth Management, said people can learn a lot about saving and spending less by taking on the lessons learnt by older Brits, who had to deal with much greater hardship during times gone by and many continue to do so.

She commented: "We can learn a lot from older people about being thrifty and getting by on a small amount of pension or income."

Ms Goodwin also recently argued that building up a nest egg for a rainy day should be a priority of all individuals, regardless of age.

Indeed, she claimed it can be a lifeline for people to continue to meet their financial responsibilities should anything bad happen to them, such as illness or losing their job.

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