Time running out for teenagers to consider savings issues and scoop £500 prize

“Saving for the future, one size fits all?” that’s the question being asked of teenagers across the UK by financial education charity, the ifs School of Finance, as part of their annual ifs Young Business Writer of the Year competition.

The free competition is open to anyone aged between 14 and 19 and enables them to test their writing skills by writing an article of no more than 1,000 words in a business magazine style. The deadline for entries is fast approaching with articles having to reach the ifsSchool of Finance no later than February 29 2008.

Students are encouraged to think about the various savings options available, the role of the state in providing for people's retirement and whether or not some savings options are preferable to others.

Gary Millner, Corporate Relations & Communications Director at the ifs School of Finance, said; “This competition is not only great for young people with an interest in business and finance, it’s suitable for any young person to enter.

It’s a thought provoking question as more than 7 million working people are not saving any money for their retirement and a further 5 million are not saving enough to provide a reasonable retirement income.

The ifsYoung Business Writer of the Year competition helps improve writing standards in general, assists in fostering an interest in business/finance and also encourages students to think about what is a very important issue – saving for the future.”

As well as the title “ifs Young Business Writer of the Year 2008” the author of the winning article will receive £500.

Entries should be e-mailed to: ybwy@ifslearning.com