How concerned are you with saving for the future? According to research completed by the National Consumer Council, an independent consumer organisation, Young Consumers do not think of themselves as "savers," but rather "spenders." The research, carried out into attitudes of younger consumers to saving for retirement, also found that young people spend little time thinking about pensions or putting aside any money for their retirement. Apparently we are more concerned in general with enjoying spending any money we have, paying our bills and repaying debt. The study also revealed that young people find it hard to understand pensions and difficult to make decisions about saving for retirement. It recommends that the government offer simpler state pensions and that they come up with some kind of targeted incentive to start saving, as well as helping younger consumers to understand their financial needs and pension options. It also suggests tackling growing personal debt before expecting consumers to save in pensions.
What do you think? Are you concerned that you aren't saving enough money for the future? Do you ever think about putting aside money for retirement, or is that just too far away to think about at the moment? What do you spend your money on? Why not head over to the Message Board and discuss it with your peers?
You can have a look at the research carried out by the National Consumer Council at http://www.ncc.org.uk/moneymatters/no_nest_egg.pdf
