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Bank charges news: Youngsters are committed to saving

Young Britons who are hoping to receive compensation having been handed unfair bank charges are still keen to use the UK's various institutions in order to save money.

A new study conducted by NS&I has indicated that 39 per cent of young men aged between 16 and 34 have outlined a specific saving goal in 2012.

People aged between 25 and 34 were found to be putting aside £104 per month, which was well above the national average of just £88.

Nearly half said they were saving specifically to get on to the property ladder as soon as possible, while 23 per cent suggested they were attempting to build a nest egg for their future.

NS&I savings spokesperson John Prout was "delighted" with the findings, which he believes showed a great deal of maturity among the younger generation.

"If you're struggling with your finances, January is a great chance to start afresh and set achievable goals to work towards over the coming year," he remarked.

Skipton Building Society chiefs recently stated that 40 per cent of Britons will attempt to improve their financial situation this year.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801259233-ADNFCR

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