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.
