Young people 'should be taught to save'

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Young people 'should be taught to save'

Young people across the UK should be urged to save in order to purchase items they desire, as this will help to teach them the value of money, it has been claimed.

Kelly Rose Bradford, parenting and relationship journalist, said making children save themselves to contribute towards larger purchases is a good way to demonstrate the value of money, as it can be difficult for some young adults to handle their finances responsibly if they have never had to do so growing up.

She noted: "It is more difficult for children to actually see real money changing hands these days, which is why early shopping games et cetera are so important."

Ms Bradford's comments follow those of Graham Spooner, investment research analyst at The Share Centre, who recently argued the investment Isa is less risky than traditional share trading and offers the potential for greater returns than simple savings accounts, and could be a good choice for young people hoping to learn more about the benefits of saving.

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