UK Money News
24th April 2008
Saving gets sexy
Saving is becoming "sexy again" as more and more young people wake up to the benefits of putting money aside, according to a personal finance expert.
Emma Byrne claims that the compulsive spending that has characterised the 1980s and the last decade is set to end as a sea change in habits becomes evident with the new generation.
She said: "I think we are seeing a propensity for people to save more and the younger generations - 18 to 34 year-olds - are actually increasingly seeing saving as more of a financial priority for them, more so than the over 55 year olds."
Ms Byrne added, however, that it is crucial when saving to choose an account that will maximise your return rather than depositing the money in a current account.
"Don’t let it languish on a fairly low interest rate in a current account, go and look for a guaranteed high rate interest account along the lines of 6.5 per cent," she advised.
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