UK Money News
3rd June 2008
Young Brits are 'well-placed to save'
Young people who are not in a relationship remain in a good position to save money despite the economic downturn.
In a study conducted by Legal & General, it was found that the number of people who managed to save some of their income during April rose by six per cent from the same month last year.
Of these, some 60 per cent were young people, who tend to be free of the higher mortgage repayments and other outgoings confronting older generations.
Julia Clayworth, Legal & General's wealth management head of marketing, said: "It is reassuring that people's saving habits are gradually changing despite the reported economic downturn and that they are still managing to have some fun as well - so not all doom and gloom."
Over the last four years the Legal & General MoneyMood Survey has questioned around 34,000 adults across the country.
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