Young people today 'better savers than their parents' The "Skins" generation is less materialistic than the babyboomers, preferring to save for university rather than save for a car or a home, if the latest research is to be believed. According to a survey by Barclays, more than third of people over the age of 45 said they had saved for a car when they were young, while only 15pc of young people now actively save for their first car. It also showed that 29pc of young people today saved for university, compared with just 6pc of over-45s. Barclays omits to mention that most students 20 years ago could count on grants and free tuition to get through university. Today, it costs more than £20,000 to embark on a three-year degree - and that's before day-to-day living costs are taken into consideration. The research was presented at the House of Commons in a session where representatives from charities, government bodies, specialist youth agencies and the corporate sector discussed new ways to build the financial skills of the next generation. Michelle Smith, head of UK consumer and corporate Affairs at Barclays, said: "It is great to see, in spite of a tough economic climate, that so many young people are regularly setting money aside. Young people are now presented with numerous and sometimes complex financial choices which their parent's generation did not have to face, including higher education costs and house prices. Indeed, saving for university has seen the biggest shift in attitude.