Britons aged 18 or under are looking for advice as to the best financial options to pursue, it has emerged.

Research conducted by NatWest reveals that nearly three-fifths (59 per cent) of young people think experience with money management is important for economic security in later life.

By receiving such experience, products such as secured home loans could prove easier to understand once an individual is old enough to obtain such lending.

Head of youth banking Mark Worthington comments: "The reality of today's teenagers is that their financial circumstances are much more complicated than that of their parents at the same age."

"They have access to a far wider range," he says - but adds that this in itself can help to raise awareness of more complex products.

More than half (51 per cent) of 14 to 16-year-olds were frustrated by simplistic statements such as "money doesn't grow on trees".

Figures previously published by the Consumer Credit Counselling Service reveal that the under-25s are increasingly willing to take on borrowing such as secured home loans.

Between 2003 and 2005, the amount lent to the demographic in all forms of loans rose by about a quarter, the financial charity states.ADNFCR-1287-ID-18326148-ADNFCR

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