You are here: Home - Saving & Banking - News -

Young people optimistic for future

0
Written by:
13/07/2009

The recession has not affected the financial ambitions of young people compared to two years ago, according to research from Alliance & Leicester. 

The findings reveal that the average earning expectations of 16-21 year old men is £44,600 in ten years time with the average earning expectations of young women being £34,800.

Young males expect to be earning £10,000 more than their female counterparts expect to earn in 10 years time. More than seven in 10 (71%) of 16 to 21 year olds still expect to get on the property ladder by the time they reach 30, compared to 72% two years ago.

More than 30% expect to be debt free before they are 34 years old compared to 32% two years ago. Over a quarter (27%) believe employers are more interested in experience than qualifications, with 15% believing employers prefer qualifications.

Andy Bayes, head of Abbey and Alliance & Leicester current accounts, said: “With so many young people looking to maintain their financial and lifestyle aspirations during these tough economic conditions, it is essential that those looking to start their career have access to good sources of advice, information and inspiration.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Brits could save £7.7bn a year by checking their savings rate

Saving account holders could earn an extra £7.7bn a year by checking the interest rate paid on their savings (AER)...

Close