debt management skills and saving habits as an adult are affected by a person’s behaviour as a child, new research has suggested.
A study carried out on behalf of Nationwide has shown that 71 per cent of respondents who saved money when they were young save regularly now.
Only 45 per cent of consumers who did not save as a child now set aside money for savings.
Furthermore, nine out of ten former child savers think their habits helped them to appreciate the value of money – which may help them remain debt free in adult life.
Director for savings at Nationwide Matthew Carter said: “Habits die hard, and 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.”
Recent research from The Hartford, a financial services provider, claimed that women worry about saving for retirement more than men.