Habits learnt young 'stay with us into adulthood'

By Sarah Engle, Wed 3 Sep 2008 - Published in Banking

Saving as a child may make you better with money as an adult, according to new research.

A survey by Nationwide Building Society has found 71 per cent of those people who put money away when they were youngsters save regularly as adults, compared with 45 per cent of those who did not.

Some 92 per cent of former child savers think the habits they acquired when young has helped them to appreciate the value of money.

Commenting on the findings, Matthew Carter, director for savings at Nationwide, said: "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."

He added in the current economic climate it is more important than ever to put money aside for a rainy day.

People who are keen to find the best rate of interest may find it helps to compare money saving accounts online.

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