Money, millennials and morals

group of millennials running in a field

Savings

Amanda Young

25th October 2016 at 9:00am

Does age affect your outlook, when it comes to money?

There seems to be a growing body of evidence that, for the Millennials, it does. That’s the generation born between the early 1980s and 2000.

The combination of growing up during the banking crisis, as well as being digital natives, has created an emerging disruptive influence in a range of markets. These are either opportunities or threats, depending on how you look at them.

The rise of the sharing economy

The sharing economy has prospered as alternative ways of sourcing finance, transport and accommodation have become available at your fingertips. Peer recommendation and online reputation mean established brands have often found themselves bypassed by new market entrants.

And it’s affecting the traditional investment world too. Profit is not seen as the sole goal: in one survey (PDF), Millennials were found to be twice as likely as other investors to invest in companies or funds that target specific social or environmental outcomes.

This becomes all the more important when we consider pension auto-enrolment and the numbers of young people who are saving into a pension for the first time, and who have investment choices in their workplace pension.

Set against this background, investments with an ethical focus have become more popular since they first appeared in the 1980s, with an estimated £15 billion held in UK ethical funds today.

Good Money Week

During Good Money Week (30 October – 5 November 2016) we’ll be exploring these themes in blogs, videos and taking part in events across the country. Find out more about Good Money Week here.

Standard Life also offer ethical or values-based investing opportunities. Visit our Ethical Investments Hub for more information.

A Stocks and Shares ISA and a pension are investments. The value of investments can go up or down and may be worth less than you paid in. Past performance is not a reliable indicator of future performance.

This blog and any responses to comments should not be regarded as financial advice. The information here is based on our understanding in October 2016.

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