Invessed's Theo Paraskevopoulos: It is time to address young people's saving woes

'Poor financial habits'

The UK is facing a savings crisis, with a significant portion of the population struggling to set aside funds for a rainy day.

According to CompareFinance, about a third of UK adults have either no savings or less than £1,000 in their accounts. This translates to approximately 22.8 million people with limited financial reserves. Amid these worrying statistics, the situation for young people appears even more concerning, as highlighted in Invessed's Defining Wealth for a New Generation report in partnership with YouGov. Likes, stocks and shares: Influence of TikTok over younger investors grows The report surveyed younger investors in the UK (those born after 1965), finding that 47% of respondents admit t...