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Teenagers money tends to come in easily and pretty much go out easily. Teenagers and young adults have a bad reputation when it comes to saving money. A college student is considered ‘lucky’ for being given an allowance for going to college, whilst a university student is seen as reckless with his/her money, spending on plenty of late night parties.

The truth of the matter is more and more teenagers are spending wisely, and more importantly, are saving more than the general perception. A survey by Lloyds TSB Savings released today that 18% of young adults (20 somethings), and nearly a quarter of those aged 18-19 aim to save up to £3,000 per year. This was shown in contrast to research showing that just one in seven of people in their 50’s aiming to save the same amount per year.

People are more conscious about their spending, why wouldn’t they be right? After all, the older generation raised the younger ones to be smarter than they were with their money from a young age. Money saving ideas will continue to be passed on from generation to generation, and with the continual increase in student loans, teenagers are even more compelled to be mindful of their money matters.