Savings accounts could become popular among teeny boppers, as an expert advises people to start savings early in life.

According to the Personal Finance Education Group (PFEG) adolescents should start putting money into savings accounts as soon as they land their first job.

In the aftermath of the global economic downturn, valuable lessons about financial planning and being scrupulous about one's money can be learnt by the young, claimed Wendy von den Hende, chief executive of PFEG.

"People have got part-time jobs when they're still at school. They should be looking to save a portion of that so they have got some emergency money for the future," she said.

Ms Hende pointed out the financial bust could influence youngsters into developing a habit of savings early on in life, which will not doubt help them prepare for a better future.

Her comments follow recent research carried out by myvouchercodes.co.uk, which found that 64 per cent of young people aged between 14 and 17 years admitted being worried about getting into debt.

The report also found that 21 per cent of teenagers in the same age bracket wanted to avoid getting a credit card or a loan as a means of safeguarding themselves from getting into debt. Another 13 per cent went on to say that they did not want to "end up like their parents", having to manoeuvre out of tight financial situations.

Seven per cent of the respondents confirmed that they were not considering going to university because of the huge amount of debt that they would be left with at the end of their studies.

Further research conducted by NatWest found that two thirds of teenagers reported that the recession had helped them improve their money management skills. Thirty three per cent of boys were likely to save in comparison to 24 per cent of girls, it was found.