A quarter of young Brits have £500 or less in their savings, according to research

A quarter of younger Brits have £500 or less in their savings, according to research.

A poll of 2,000 adults aged 35 and under found a quarter don’t have any funds set aside for emergencies, with 29 per cent prioritising saving for other things instead.

While 15 per cent admit to embracing a ‘YOLO lifestyle,’ where they put short-term plans or activities ahead of longer-term goals.

And nearly half (49 per cent) lament a lack of disposable income preventing them from saving as much as they’d like.

The research was commissioned by NatWest to mark the launch of ‘Couch to Cash: The £5K Challenge’, which encourages young people to build healthy monthly savings habits.

Olympic gold medallists Alistair and Jonny Brownlee have been enlisted to launch the challenge by starring in a light-hearted video offering helpful tips to tackle the key saving barriers.