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Saving habits last a lifetime
04 September 2008
A new study has found that consumers who saved as a child are more likely to have a regular saving habit as an adult.
Research by Nationwide Building Society revealed that 56 per cent of consumers saved as a child and, of those that did, 71 per cent save regularly now, so if you compare savings accounts, child savers will probably have a stronger financial standing.
Matthew Carter, director for savings at Nationwide, says: "Habits die hard, and this research shows that those who learnt the value of money and how to save effectively at a young age, are more likely to continue to do so in adulthood."
Furthermore, Nationwide found that 75 per cent of non-child savers have encouraged, or intend to encourage, their children to save even though they did not save as a child.
"With the current economic situation getting tougher, it's never been more important to put money aside for that rainy day," added Mr Carter.
Click here to Compare savings accounts
