After months of worry and headlines of woe, it seems that although the recession isn’t yet ending, our attitude towards it might be.
Counting pennies, cutting down bills and paying on credit are certainly wearing us all out but rather than sitting down and moping about it, it seems as a group, we’re adjusting to it; coming to terms with the change in lifestyle required and starting to put theories in to action to ensure we can weather the storm ahead.
Reports now indicate we’re adapting a more positive and responsible approach towards budgeting and borrowing. With help from the government in the form of low interest rates, Capital Economics claim we, as a nation, have turned a corner and become pro-active in setting goals to become debt free – a target which many of us now feel is achievable. So achievable that 26% of us are confident we can recover from the sandpit we are in within the next 6 months!
What’s even more positive is that the younger generation are not ignoring what’s going on around them, but observing and learning from our mistakes.
NatWest’s Moneysense Panel confirms 86% of 12-19 year olds are already keeping track of their money and 39% have set goals to leave University with no more than £10,000 debt. For a generation we often feel everything has come too easily to, they’ve quickly asserted themselves into coming up to speed with the economic climate and it finally appears the Xbox and Wii have been put aside, to instead devote due attention to lessons in finance.
Maybe it’s time for us to learn to take a lead from the younger generation; after all, with such nouse, this could be the first signs of their transformation into the leaders of tomorrow.