The survey of 1,316 Britons also found 31% of young people save money in case of a change in circumstances, such as losing their job. A further 16% save with the aim of paying off their debts.
However the figures suggest that 95% of those in that age bracket do not put cash aside for their old age.
Richard Marriott, Nationwide's head of savings, said: "Encouraging young people to adopt a savings habit early on is vital. Just putting aside a small amount on a regular basis can make a huge difference.”
