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Young UK adults are missing out on "free money" by not doing one simple saving trick. 18-28 year olds could have earned more than £3.1 billion over the past 12 months by adopting one straightforward technique.

Just 35 per cent have opened a Lifetime ISA account, which can be used towards purchasing a first home or building a pension pot. This means 65% are going without.

The scheme sees the government add a 25 per cent bonus to your savings, up to a maximum of £1,000 per tax year. And whilst these young adults are still managing to save £2,059 annually – they are missing out on £512.77 in free Labour Party government money as a result of not opening an account.

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If someone opened the account at 18

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