Within our general culture of indebtedness, it is surprising that attitudes towards credit generally remain largely negative. The research found that almost two-thirds of young adults appear to be uncomfortable with debt. However, the vast majority also agreed that, to some extent, it is sensible to use credit for essential items rather than for luxuries.

The findings also reveal that, in terms of financial priorities, 50% of under 26s consider buying a house to be a major priority. At the same time, only 10% of this group would consider prioritising their retirement needs, with under a tenth (9%) of the total currently holding a pension. Encouragingly though, the research shows there is evidence that some under-26s are becoming increasingly aware of the need to make pension provision. In this sense, 17% of respondents claimed they would invest a £2,000 windfall in a pension.

Unsurprisingly, financial priorities emerge as being different for men and women within the survey. Over 50% of young men believe that buying a house remains their highest priority. By contrast, 53% of young women believe providing for the future family would be their main concern. Both sexes appear to be relatively happy with their main account provider, with 57% claiming that their financial provider understands the financial needs of young people.

The other unexpected major finding is that relatively few young adults are keen to convert to online/direct banking in the near future. The findings point to an almost even spilt between those who believe it is attractive and those who do not. It also appears that the nearer the consumer is to 26, the more likely they are to appreciate this channel. Commenting on this aspect, Graham Collett of Mintel said, "It is far too easy to assume that young people want to bank direct, and are less inclined to appreciate branch transactions than older consumers." This research is now available in Mintel’s report "Selling to & Profiting From The Under 26s".