80s yuppies 'now worry about their finances'
Published On 16 November 2007
Current young professionals are far more informed about debt management and other financial tools than previous generations, an industry expert has said.Lucy Pope, spokesperson for LV, explained that issues surrounding debt and saving were far more widely publicised now than they were in the past.
She explained: "A lot of the messages out there about making sure you save for the future and your retirement and about paying off your expensive debt and that type of thing… are coming through.
"There is more awareness now. The government are doing quite a lot in terms of educating people and it is quite well documented in the media about pensions and young people [needing to] save."
A study by LV found that 45 per cent of young urban professionals (yuppies) from the 1980s now struggle financially.
"Despite the champagne lifestyle and optimism of the time, our research reveals that many former high flyers have ended up no better off than the average midlife family," explained Nigel Snell, communications director of LV.
"They are just as worried about meeting the monthly bills, the cost of bringing up their kids and how they will fund their old age."
