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Study finds most young people...

WTF?

Study finds most young people have a small fortune saved by the age of 30

Jonathan Duane
Jonathan Duane

04:18 31 Mar 2022


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Clearly I wasn't surveyed...

While it may seem like all young people spent their money on is nights out and the latest phone, they actually have quite the savings account.

One new study has found that the average person under thirty years old has around £9,300 (€11,010.77) saved for their first property.

Experts spoke to 2,000 adults aged 18-29 and found more than half would be happy to move to a rubbish location if it meant they could buy instead of rent.

However, 75 per cent worry that house price rises are drastically outpacing their salary increases, making their task even more difficult.

And 76 per cent feel the government should be creating more incentives to help young adults get on the property ladder.

Despite young people seemingly always on a night out, 7 in 10 of those surveyed said they have given up on luxuries to help boost their savings.

And 35 percent feel the pandemic has actually had a positive effect on their bank balance as clubs, pubs and restaurants were shut.


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