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Meet Generation O

Half the country’s teenagers believe that they will own a house by the age of 25, despite Britain’s dire economic situation. Results from the RBS MoneySense survey of young people found that most were very optimistic about their future finances.  More than 80% of those surveyed said that they would own a home by the age of 30 and most said that they would earn more than £60,000 a year by the age of 35, despite the current average salary being only £24,333 for 30 year olds.  Only 15% of respondents expected their debt after university to be between £20,000 and £30,000. More encouraging news was that the number of teenagers not monitoring their finances has halved since the MoneySense surveys started in 2007.

For full survey findings:  www.rbs.com/microsites/MoneysenseResearchPanel/content/findings/index.html

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