Consumers are being urged to organise their banking arrangements by the age of 26 in order to ensure a more financially stable future.
The financial planning experts Prudential has revealed that an individual should try and have the essential building blocks of financial security such as mortgages and pension plans in place by 26, to avoid years of future financial insecurity.
Pension plans, getting on the housing ladder and regularly putting money into a savings account should all be something Brits should strive to achieve before they reach 30.
However in reality most twenty-somethings will rarely reach these financial goals by the time they are 30, with the average first-time buyer currently aged 34.
Most are also waiting longer before getting married, which usually triggers a turnaround in attitudes towards finances, with women waiting until they're 29 and men not tying the knot until they reach 31.
But Roger Ramsden from Prudential says it is never too late to sort out financial problems.
"For those of us who do seem past-it, we can still do an awful lot to improve our financial position; whether that is pay more into our pension, save more, or reduce our debts," he explained.
"Planning early is key to a secure financial future," he concluded.
Brits urged to get banking plans sorted by 26
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Brits urged to get banking plans sorted by 26
Wed, 19 Apr 2006
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