Standard Life and Explain the Market have joined forces to uncover how best to support the UK’s growing community of young savers. Many people agree that under 35s have the right skills to create a financially successful future but many current approaches are failing tech-savvy savers. A new ongoing programme of research by Standard Life and financial researchers Explain the Market aims to uncover the secrets of how to support younger savers.
This short report reveals some key findings from the UK-wide project. The emerging evidence is already shattering the negative myth about 18 -35 year olds being reckless and wasteful. The findings reveal a nation of young but sensible savers.
The study has already interviewed 1,000 adults and evidence is emerging that the spending habits of younger people are somewhat better than first envisaged. The research is also looking into how results differ for each region. Initial insights show that the West Midlands, South West, North Yorkshire and London are flourishing, with young people who are actively saving for the future.