Teenagers encouraged to save to avoid needing debt relief
www.moneynews.co.uk > Debt > Teenagers encouraged to save to avoid needing debt relief
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Teenagers encouraged to save to avoid needing debt relief
Fri 20th Aug 2010
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According to the Personal Finance Education Group, young people have become far more aware of the problems debt can bring since the onset of the financial crisis.
Wendy von den Hende, chief executive of the organisation, said recent economic events have served as a wake-up call to teenagers.
As a result, she has called on this demographic to consider their long-term financial futures and take proactive action to avoid problems down the line.
"The more they can save up from an early age the better - it's about getting into a habit," she commented.
Ms von den Hende stated that people do not have to put aside a large sum of money every week or month.
She added that seeing this mount up can be a "great motivator" for further saving.
This comes after a NatWest study revealed that boys are more likely to save money than girls.
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