Young people may be more aware of the need to avoid credit card charges as they know the importance of saving.Such is the importance of Anna Sofat, chief executive officer at Addidi Wealth, a financial planning and wealth management service regulated by the Financial Services Authority.Ms Sofat was asked if young people are aware of the importance of having a financial safety net.She said: "I think it is filtering down, but with more student debt and the need for larger deposits for first homes, the reality is that it is difficult for many youngsters to prioritise pension savings over and above their immediate or short-term objectives."His comments come as the GB Consumer Confidence index by the Nielsen Company and the British Retail Consortium showed that the UK is becoming a nation of savers.Research showed that, despite low interest rates, the most popular thing to do with spare cash is put it into savings.John FieldmanHaving worked in the city for 19 years, John's main focus is interest rates and corporate finance.
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