Teenagers are ‘becoming more financially aware’

Teenagers have become more financially-minded because of the recession, new research has suggested.

NatWest’s 2010 MoneySense Research Panel has found that adolescents are more considered in their approach to planning, budgeting, spending and saving than they were a year ago.

The poll, which surveyed over 10,000 12 to 19-year-olds across the UK, assessed the financial aspirations of the participants.

It discovered that 67 percent of those questioned believed themselves to be more monetary-savvy after the economic downturn.

Gary Milner, director of operations at the Personal Finance and Education Group, explained the profound effect a recession can have on youngsters.

He said: People will learn lessons from any sort of crisis especially when it’s one that affects them personally or one that they can see affecting others.”

The statistics also disclosed that boys are more likely to save than girls – with 33 per cent of young males stating they put their money away, compared with 24 per cent of females.

By Joe Shervin