NEW REPORT: Generation Austerity

NEW REPORT: Generation Austerity

Today, we publish our second annual Young Money probe into the attitudes of Britain’s twentysomethings – “Generation Austerity”. Here, MRM director MICHAEL TAGGART, who co-authored the study, reports on the hopes and fears of a generation that has known almost nothing in their working lives but recession and economic gloom. As the UK finally emerges, blinking, from arguably the deepest economic crisis of the post-war era, the children of ‘Generation Austerity’ are beginning to surface. Until now, these 20-29 year olds have known nothing other than a national drawing of the purse strings in their adult lives: falling wages, increasing competition for jobs, rising poverty, rock bottom interest rates, public spending cuts and a national housing crisis to name but a few of the hurdles most have had to vault to succeed in life. So how has this affected the perceptions, attitudes and beliefs about the world of the children of Generation A? That is the question at the core of our second annual Young Money report – read it here – and a question that we are finally in a position to answer fully as the economy shows real signs of recovery. The results of our research have been stark. In essence, we discovered a highly conservative (with a small c) generation of twentysomethings – perhaps more so than any other in the last 50 years. Few would argue that young adults have traditionally been far more footloose and fancy-free than their parents and grandparents. Yet our study suggests that today’s twentysomethings are, if anything, more anxious about the world than are older generations. The children of Generation...

MRM publishes first annual Young Money probe

What’s stopping young adults from saving for pensions? When, if ever, will they buy a home? What do they think of high street banks? What risks will they take – legal or otherwise – to get their hands on extra cash? Twentysomethings are the UK’s future savers, speculators and spenders and their attitudes to money now will reflect the choices they make in future decades – when financial services businesses will want their custom. That’s why we, at MRM, think it’s important for the industry to get inside the minds of today’s young adults. With this in mind, MRM today publishes a detailed probe into the finances of twentysomethings and their attitudes to money issues. Working with an independent research agency and a panel of experts, including Gareth Shaw from Which?, Katie Morley from Pensions Week and young money blogger Iona Bain, our Young Money report answers these perplexing questions. If you would like to receive a copy of the report, please email Jenny Crossland at jenny.crossland[at]mrm-london.com...

Money, money, money…

Cat Ommanney discusses the past week at MRM, with all the latest gossip from the team as well as the news items which have been hot topics at MRM towers. The Budget has been at the forefront of our minds this week. With the country’s economy arguably still on rocky ground, George Osborne had a whole range of issues to address – where are we going to see tax cuts? What are the inflation and unemployment prospects for 2013? And, what does this all mean for us? With the Government steadily leaking what could be expected from this year’s report ahead of the actual event, there weren’t that many surprises on Wednesday. However, for a comprehensive overview of the Budget, please click here. If, like many of us, you’re left scratching your head working out how this will affect you personally, the Budget Calculator on the BBC lays out the facts and figures too. As predicted, Osborne’s Budget provoked a range of responses from those in the financial services industry, including an interesting webinar debate hosted by Cofunds and Money Marketing. Elsewhere, Apple announced plans to pay shareholders a quarterly dividend. The first dividend payment since 1995 will be paid out in July 2012, and there has already been change in stock prices in anticipation of this. Hersh Cohen, CIO at Legg Mason subsidiary ClearBridge, has praised this as a positive move for Apple and expects this announcement to act as a catalyst for more firms in the tech space to follow suit (for his full comment please contact MRM). Closer to home, we have been ramping up the...

The king of links

[slideshare id=3749007&doc=youngmoneypresentation-100416095917-phpapp01] This Friday we doff our lowly cap and bring you a link so regal we’re tempted to thrust a sceptre in its hand and plonk a crown on its bonce, for it is none other than the slideshare presentation by our very own Sarah O’Connell on the findings from MRM’s Young Money research  ‘The Lost Generation?’. Oh yes, so impressed are we with the calibre of this link that we are giving it its very own blog, uncluttered by the plebeian throng of common or garden Friday links. This blue blooded beauty stands alone as the king of links. Bow down before The Lost Generation? * *The author professes full and unequivocal bias in promoting this...