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Saturday, 2 November, 2002, 00:26 GMT
Teenagers are Britain's top savers
Teenagers
Older teenagers are model savers, says the survey
Young people in their late teens are Britain's top savers, according to a new survey.

While this age group may earn substantially less than older age groups, they expect to save on average 189 of their monthly disposable income over the next month.

People in their 40s, however, planned to save just 87 a month.

The survey comes after a series of warnings from the government and industry bodies about the savings gap and the large number of Britons who could be heading for poverty in their old age.

Young and wise

The biggest savers after young people are those in their 30s.

They hope to save 138 of their monthly disposable income.

People in their 20s on the other hand are putting aside half the amount of teenagers - just 94 a month.

Women are saving 81 a month from their disposable income, almost a quarter less than men who are putting away 140 each month.

The quarterly Wealth Tracker Index from Alliance & Leicester shows people are investing less and spending more.

Spend, spend, spend

Since the last survey was conducted in June, investing has nearly halved.

People spent just 5% of their disposable income compared with June, when they were putting 9% into products.

In terms of spending 30-somethings are taking the lead in the shopping sprees, planning to spend 249 a month over the next three months.

They are closely followed by those in their 20s who aim to spend 245 a month.

Women are spending almost a third more of their income than they were in the third quarter, while men have reigned-in their spending from 233 to 214 during the last four three months.

See also:

31 Oct 02 | Business
01 Nov 02 | Business
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