A quarter of younger Brits have £500 or less in their savings, according to research.
A poll of 2,000 adults aged 35 and under found a quarter don’t have any funds set aside for emergencies, with 29 per cent prioritising saving for other things instead.
While 15 per cent admit to embracing a ‘YOLO lifestyle,’ where they put short-term plans or activities ahead of longer-term goals.
And nearly half (49 per cent) lament a lack of disposable income preventing them from saving as much as they’d like.
The research was commissioned by NatWest to mark the launch of ‘Couch to Cash: The £5K Challenge’, which encourages young people to build healthy monthly savings habits.
Olympic gold medallists Alistair and Jonny Brownlee have been enlisted to launch the challenge by starring in a light-hearted video offering helpful tips to tackle the key saving barriers.
A poll of 2,000 adults aged 35 and under found a quarter don’t have any funds set aside for emergencies, with 29 per cent prioritising saving for other things instead.
While 15 per cent admit to embracing a ‘YOLO lifestyle,’ where they put short-term plans or activities ahead of longer-term goals.
And nearly half (49 per cent) lament a lack of disposable income preventing them from saving as much as they’d like.
The research was commissioned by NatWest to mark the launch of ‘Couch to Cash: The £5K Challenge’, which encourages young people to build healthy monthly savings habits.
Olympic gold medallists Alistair and Jonny Brownlee have been enlisted to launch the challenge by starring in a light-hearted video offering helpful tips to tackle the key saving barriers.
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FunTranscript
00:00Hi, I'm Alistair Brownlee and I'm Jonny Brownlee and we're here today to help launch NatWest's Couch to Cash 5k challenge
00:07So let's get to it
00:19We know savings tough, especially at the moment, but it's a lot like an endurance sport something we know a thing or two about
00:25A
00:27Little more action feels good. So stop thinking about it and start doing it getting started can be daunting
00:33With a bit of support. It doesn't have to be scary
00:36Think big we all have dreams
00:39speaking of which
00:41Visualize the finish line. So we're going to train with you to help you hit your saving goals. Let's start this payday ready
00:55You