LONDON, Aug. 13 (UPI) -- Life experience, followed by parents, are the biggest influences on how young Britons handle their money, a survey finds.
While many parents think their children might be unwise when it comes to money, the survey by AXA -- a British insurance and asset management firm -- found those who grew up in the 1970s and 1980s are more worried about their financial future than their parents were at the same age.
"There's a common perception that those brought up in the 'have it all' years of (Prime Minister Margaret) Thatcher are more reckless with their money and have a more haphazard approach to saving than their parent's post-war generation," said David Williams, of AXA.
About 27 percent of the young adults say they are concerned by their lack of savings, while 56 percent try to save but say they cannot manage to do so regularly, and a third want to get out of debt, reported the Daily Telegraph.
At their age, the parents' financial goals were being able to afford new cars, vacations and clothes.
