- Skip to content [Accesskey 'S']
- Skip to navigation [Accesskey 'N']
- Go to Home page [Accesskey '1']
- Go to Site Map [Accesskey '3']
- Go to Search page [Accesskey '4']
- Go to Help page [Accesskey '6']
- Go to Complaints page [Accesskey '7']
- Go to Terms & Conditions page [Accesskey '8']
- Go to Contact Us page [Accesskey '9']
- Go to Access Key Details page (Accessibility information) [Accesskey '0']
Young low-income Brits 'vulnerable'.
14/02/2012
New research has found that 20% of young people on a low income would only have enough cash for a month if they became unemployed.
The report by the Institute for Public Policy Research (IPPR) concluded that young Britons who earn less than £21,000 are "particularly vulnerable" when they lose their job because they cannot afford to put aside a lot of money.
More than 25% of those polled said they believe they could get by for between one and three months if they were made redundant, while 17% said they would run out of money in less than a month.
The study also found that two in three young people would like to own their own house one day, but only 20% have £5,000 or more put aside in a savings account.
The IPPR criticised traditional savings accounts like ISAs, claiming they favour wealthy customers, and urged the Government to help young people to put more money aside.
Copyright Press Association 2012
How useful did you find this page?
Your recently viewed items
You need javascript enabled for us to remember your Recently Viewed Items.
You might also be interested in...
ISA transfers
Find out how to move your existing cash or stocks and shares ISAs held with another provider into one of our ISAs.
ISA top-ups
Haven’t made use of your full ISA allowance for this year? Top-up with a lump sum or increase your direct debit.
My Accounts
For an easy way to manage your investments online.
