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Adults can educate children about saving
06 August 2008
Young consumers should learn about the benefits of saving from their elders, according to a journalist and a psychologist.
As the older generation have lived through previous economic downturns they are more likely to be skilled at saving during harsh economic times and younger people could learn from them, claims Daily Mail journalist Rosanna Spero.
Ms Spero said "Perhaps the younger generation would do well to go get a few tips from their parents and grandparents about how to survive it."
Young people should adapt their parents and grandparents advice so that it fits modern times, according to psychologist Gladeana McMahon.
Ms McMahon said: "You might want to say that they know a thing or two and maybe take some of their tips, modify them and get the best of both worlds."
Research by Lloyds TSB Insurance revealed that 43 per cent people aged over 55 had a high quality of life compared to just over a third of people between 16 and 44.
