Young adults are ditching long-term savings goals in favour of travelling, wellness and crypto.
A poll of 2,000 18–35-year-olds found more have these six-to-18-month money ambitions (50 per cent) compared to longer ones (40 per cent), like saving for a house deposit.
Travelling is the number one target for this group in this timeframe (39 per cent), followed by 24 per cent hoping to put enough money aside to start a business.
Others are putting money away to allow them to go on a health and wellness retreat (20 per cent), to tie the knot with their other half (15 per cent), and get an electric motor (13 per cent).
While 12 per cent are even squirrelling cash away for the upcoming festival season.
The research was commissioned by NatWest to encourage young people to build healthy monthly savings habits with Couch to Cash: the £5K Challenge.
The bank has also partnered with Team GB Olympic gold medallists Alistair and Jonny Brownlee to provide helpful tips to tackle the key barriers to saving.
A poll of 2,000 18–35-year-olds found more have these six-to-18-month money ambitions (50 per cent) compared to longer ones (40 per cent), like saving for a house deposit.
Travelling is the number one target for this group in this timeframe (39 per cent), followed by 24 per cent hoping to put enough money aside to start a business.
Others are putting money away to allow them to go on a health and wellness retreat (20 per cent), to tie the knot with their other half (15 per cent), and get an electric motor (13 per cent).
While 12 per cent are even squirrelling cash away for the upcoming festival season.
The research was commissioned by NatWest to encourage young people to build healthy monthly savings habits with Couch to Cash: the £5K Challenge.
The bank has also partnered with Team GB Olympic gold medallists Alistair and Jonny Brownlee to provide helpful tips to tackle the key barriers to saving.
Category
😹
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.
00:26A little more action feels good.
00:29So stop thinking about it and start doing it. Getting started can be daunting, but with a bit of support, it doesn't have to be scary.
00:36Think big. We all have dreams. Speaking 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?