Home income plans may appeal to 'more sensible' younger generation

Wider consumer awareness of personal finance options such as home income plans may be set to increase after a new survey revealed that young people are becoming more savvy when it comes to money matters.

British teenagers are emerging from the recession with more money sense, according to findings released by Natwest.

In the bank's latest annual poll of 10,000 young people aged between 12 and 19, over two-thirds (67 per cent) said their financial management skills have improved during the downturn.

Boys are apparently more likely to save than girls, with 33 per cent of young males compared to 24 per cent of females claiming that they put aside all or most of their money.

Gary Millner, director of operations at the Personal Finance and Education Group, said it is true that people will learn lessons from a crisis.

"If you catch a young person in a structured environment such as a school, you have the unique opportunity to provide them with financial education in a more consistent and planned manner," he added.

Ashall Glover Financial Services home income plan advisers