Thaindian News

London, Mar 3 (ANI): A third of teenagers in the UK do not consider credit card as real spending at all, according to a new study.

The joint research by a high street bank and a range of children charities has highlighted the attitudes of the youth to money.

It found that around 34 percent regularly ran out of money, despite considering themselves savers rather than spenders, reports the Daily Mail.

The study into the spending habits in the 16 to 24 year age group also revealed how one in four young people who are unemployed and 13 percent of those aged between 16 and 24 said they constantly run out of cash.

A third of those aged between 22 and 24 admitted that they still relied on handouts from their parents to survive.

Seventy-five percent of young adults said they had saved in the past year, but were putting aside the money for buying gadgets and clothes.

Only three percent said they had received financial guidance from their school or college, with 90 percent saying they relied on advice from family or friends.

The findings were published as Barclays announced it had teamed up with three children charities - Action for Children, the National Skills Academy for Financial Services and the National Youth Agency - to offer help with budgeting, spending, saving and avoiding debt.

The scheme will target people in hard-to-reach groups, such as those who are not employed or in education or training.”It is essential that vulnerable young people are given the best start in life.Having good money management skills, particularly when faced with a constrained budget, is vital to enhancing their life opportunities and preparing them for independent living,” said Deanna Oppenheimer of Barclays. (ANI)