Finding The Savings Projects For Young People 's Current Economic Environment

Decent Essays

Background Introduction This article aims to discover the savings projects that best appeal to young people in current economic environment. UN (2015) declares that the worldwide labour market circumstances persist challenging and the general situation is further complicated. In Europe, tension situation of Ukraine causes an unfavourable effect on economic recovery activities and confidences, which makes the reconstruction of euro region remain risky and unstable. On the other hand, employment rate decreased sharply after the financial crisis and job creation is extremely insufficient. Moreover, youth unemployment rates keep relatively high in European countries, such as, 53% in Spain, 44% in Italy and 35% in Portugal (World Economic …show more content…

According to Berry (2011)’s report, the UK government developed the National Employment Savings Trust (NEST) and automatically enrol workers into pension scheme, which is already leading some young workers to a long-term savings track. Furthermore, Tipper (2014) believes that Generation Y can resonate with tenable investment approaches if savings sector could build user reliance in investing by adopting auto-enrolment programme. Networking This research proposal uses Delphi technique to refine the research topic area. It is about forming a group of individuals who are related to or concerned about the research area to develop a more particular research idea (Saunders et al., 2006). I explained to three relevant course lecturers that my research idea was involved with helping young people use financial products to save and plan for their future. And we generated a few specific ideas, such as: the economic aspects that required young people to start saving; the features that young people look for in savings projects; roles of governments and savings sector in developing preferable savings projects. After discussion, I refined my research idea to: what savings projects best appeal to young people in current economic climate. Literature Review In recent years, savings in pension is always the major savings project appeal to

Get Access