27 March 2008
Youngsters should think about the future and start saving for it as soon as possible, maybe in current accounts, Scottish Widows has claimed this week.
Savings Expert at the company Anne Young said that she is a "big fan" of putting cash away and parents must encourage their children to do the same.
By doing this on a regular basis then a great deal of cash can be ferreted away, Ms Young noted.
Furthermore, she argued that savers should have two accounts - on that can be dipped into when money is needed and another for more long-term goals.
"Have a savings account that you try not to touch, because that's the way that you'll build up a substantial amount of money over the years," she commented.
According to recent findings from the organisation, 42% of adult children given money by their parents used the cash in a bid to alleviate debts.
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