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Legal & money

Young people not saving enough?

(12 Posts)
sneetch Wed 08-Jun-11 16:00:14

Just seen a report saying young people aren't interested in saving for the future. Any ideas how we grandparents can encourage them to think a bit more long-term?

TwinsetandPearls Wed 08-Jun-11 18:02:40

Young people I know can't afford to live without help, they have no means of saving. Life is very expensive once they've left home.

nanafrancis Wed 08-Jun-11 18:58:27

And to be honest, when you see the feckless scroungers being given everything they 'need', is there any encouragment for anyone to save?

em Wed 08-Jun-11 21:17:24

How do we define feckless scoungers? I'm still getting over the appalling situations some children endure. Did you see the 'Poor Kids' documentary last night?

em Wed 08-Jun-11 21:28:38

See the thread 'Poor Children' in Politics/In the news.

daddydaycare51 Thu 09-Jun-11 23:48:48

I feel that with the recent comments in the news recently answers a lot of peoples questions about saving for the future.
There are thousands of the elder population who have contributed to their pension schemes all of their lives , only to find out now that it is basically no where near worth as much as they thought it would be. People are being asked to work for longer years to boost it up a little.
The governments and MP's past and present do not have this countries interest at heart (hence the fiddling of expenses) if they did we would not be in the situation we are in now.
Our country is in a state and yet we bail out banks, countries, involved in wars , iraq , afghanistan ,libya these have cost the people of this country billions and billions of pounds and now we find that over £200-£250 million per year is sent to Pakistan for ( schools and education). Yes I know everyone is entitled to an education but why are we contributing to another countries education. And yet the people that aledgedly run this country are telling we need to cut down on this that and the other , well that's fine as long as they stop sending billions and billions of £'s to countries that don't benefit this country.

june Thu 09-Jun-11 23:58:19

The best way to get people to save on a regular basis to to start them to do so when they are very young even if its means a few penny put away in a piggy bank, so when they grow up they get into the habit of saving not pennies but a few pounds./ I remember my Mum got me into this habit and I have taught my kids, pennies turn into pounds.....

june Fri 10-Jun-11 00:00:24

Start a childrens savings account for grandchildren, get them to help count monies and personally take them to the bank to deposit it, they would love and enjoy doing so.... hope this helps

gangy5 Fri 10-Jun-11 10:06:00

Personally, I'm not inclined to tell the grandchildren how to save or that they should. One cannot foresee the future or how inflation will affect things. Mr parents passed away not long ago and we were very fortunate to be left a little money. Both my children (with their families) were living in very modest houses and had the opportunity to extend over the garage. We gave them the money to do this when, at their time of life having alot of expense, they wouldn't have managed to do it. I believe that this was a good investment for their future. Far better than investing the cash somewhere.

gillybob Fri 10-Jun-11 12:51:02

I totally agree with you TwinsetandPearls. My son and DIL both work extremely hard in fairly low paid jobs and rely on us to help them make ends meet with the children. Me and my hubbie and the other grandparents try and buy the childrens shoes, coats etc and great granny even makes up a food parcel for them every week.

Savings??? Don't make me laugh they can barely afford to live.

em Fri 10-Jun-11 23:24:26

daddydaycare - please check out comments on the Politics/this government thread.Some contributors there seem to think that aid is NOT all about helping this country, but it's about alleviating real poverty.

roroism Fri 29-Jul-11 15:47:42

I think the trick is to not nag young people, but explain to them the benefits of saving... Use examples of things that are more realistic to them - like a car or a new bike or whatever may be relevant to them now... Then explain the benefits and transfer how it is important to save in life.