Young people save less, spend more   

By The Holland Times Monday 07 June 2010, 10:06

More than half of young people in the Netherlands work over eight hours per week. Some 70 percent have a steady job, according to research from the Ministry of Social Affairs and Employment via Hyves. 

The majority of youths spend their earnings on clothing and entertainment, the report finds. However, a majority say that they spend more cautiously.

The ministry finds that young people save less. Only one third of youths who participated in the survey said they put their salaries in the piggy bank. 

The investigation also shows that working in the hospitality industry is the most common job for youths. 

The survey looked at over 500 young people in the country. The research is part of the campaign, "Without cash you are nowhere."

The initiative teaches youths how to handle their finances after two thirds of youngsters report it is hard to figure out where money goes.