Financial Services for Young Adults 2003

CHAPTER 1 INTRODUCTION

CHAPTER 2 MARKET CONTEXT

• A demographic profile
• Two key groups
• Students
• Newly employed

CHAPTER 3 LIVING ARRANGEMENTS

• Introduction
• A snapshot of living arrangements
• Young adults living at home
• Size and development
• Key issues
• Cohabitation among young adults
• Size and development

CHAPTER 4 FINANCIAL ATTITUDES AND TRENDS

• FS provider selection
• Saving habits
• Retirement planning
• Borrowing habits

CHAPTER 5 ACTION POINTS

• Young adults as a consumer group

CHAPTER 6 APPENDIX

• Supplementary data
• Research methodology
• Future readings
• Datamonitor Reports
• Do you need further information?
• Datamonitor financial services consulting
• FS writing team

LIST OF TABLES

• Table 1: Young adults (aged 18-24) by country, 1997-2007
• Table 2: Overall European young adult consumer group size, 1997-2007, millions
• Table 3: Gross income comparisons between 18-24 year old groups (€ per capita and total €bn), 2002-2007
• Table 4: Total Student population (aged between 18 and 24 years old) in millions, 1997-2007
• Table 5: Students (18-24 years old) �Emale/female splits, 1997-2007
• Table 6: Total Newly Employed population aged between 18 and 24 years old (millions), 1997-2007
• Table 7: Newly Employed (18-24 years old) male/female splits, 1997-2007
• Table 8: Estimated probability of living at home by selected income levels
• Table 9: Young adults cohabiting in Europe, 1997-2007
• Table 10: Young adults�Efinancial reliance on parents
• Table 11: Living arrangements of young adults, 1997
• Table 12: Young adults living at home, 1997-2007
• Table 13: Financial decision making amongst co-habiting 18-29 year olds
• Table 14: Factors influencing young adults�E(18-24) choice of provider
• Table 15: The most important factor influencing the choice of student account/provider
• Table 16: Level of savings amongst young adults (18-29)
• Table 17: Young adults�E(18-29) savings situation for retirement
• Table 18: Retirement savings vehicle preferences among young adults (18-29)
• Table 19: I’m afraid I won’t have enough money to retire, 18-29 year olds
• Table 20: Lender preferences among young adults (18-29)

LIST OF FIGURES

• Figure 1: Young adults (aged 18-24) by country, 1997-2007
• Figure 2: Living arrangements of young adults, 1997
• Figure 3: Young adults living at home, 1997-2007
• Figure 4: Financial decision making among co-habiting 18-29 year olds
• Figure 5: Young adults (18-29) consider the cheapest/best rates to be the most important factor when choosing a financial services provider
• Figure 6: Most students choose their student bank account due to experience with a provider
• Figure 7: Young adults (18-29) are saving very little
• Figure 8: Although concerned about retirement, more than half of young adults (18-29) have not started saving
• Figure 9: Pensions are still the most popular, but property is hot on its heels for young adults�Eretirement planning
• Figure 10: Young adults would rather turn to their parents for a loan than their bank