Trustnet Magazine 55 October 2019 - Page 4

Cover Story 4 / 5 [ TOOLS ] Pádraig Floyd looks at the technology available to help savers take control of every area of their finances Tools of the trade N obody is born knowing how to save. It is something we are taught, that is started on our behalf – at home or work – or that we have to learn for ourselves. Taking that first step is often difficult and it seems to be getting harder. Generation Y (millennials) are expected to be the first generation in half a century to be worse off than their parents. Student debt, rising house prices and stagnant wage growth make it difficult for them to make financial plans for the future. This goes far beyond worrying where their next avocado on toast is coming from, according to research from the TUC, with a fifth (20 per cent) of all workers skipping meals to make ends meet. FE TRUSTNET