NatWest: UK kids lead savings trend

25 November 2005
UK teenagers are at the 'forefront' of a new savings trend, says NatWest.

A survey by NatWest Face 2 Face with Finance schools programme found over three-quarters of UK kids understand that savings are important and save over £107 million a year in their bank accounts and piggy banks.

However, 68 per cent still feel they would benefit from money management classes taught at school, says the bank.

Sarah Canning, spokeswoman for the schools programme, said: "It is really important that we are seeing this positive approach to money amongst teenagers in the UK.

"Having a good understanding of the value of money and a proactive attitude towards saving can only serve them well in the future.

"We strongly believe that learning about personal finance at an early age will help the next generation to make the most of their money."

The survey found saving for university and college fees is not a priority for British teens, as they mostly save up for cars, holidays and birthday presents.

The NatWest Face 2 Face with Finance programme provides schools with learning modules geared at teaching money management skills across the curriculum.

To read more about Savings Accounts, click here.

track© Adfero Ltd