Designer shoes have emptied many a first pay packet. Photograph: Lucas Jackson/Reuters
I was surprised to read figures released recently by Fidelity FundsNetwork that more than 234,000 people aged between 25 and 34 are currently saving enough to become millionaires by the time they retire.
According to the research, 3% of younger workers are setting aside at least £600 each month for their pension. I am amazed at this figure. When I started my working life I certainly wasn't thinking of saving for my old age. In fact my first ever proper pay packet was spent almost entirely on lingerie.
Talking to a few of my colleagues it seems they too blew their first wages - one on Glastonbury tickets; one on booze, Unknown Pleasures by Joy Division (that shows his age) and a new top from Limey's in Nottingham; another on tickets to Ibiza and another on a camera.
Maybe today's financial pressure has put a stop to that frivolous first pay spend. Or were there always young workers who chose to save from the outset? Can you remember what you spent your first wage on? Was it gone in minutes, or put by for the future?
