Fewer Brits are currently saving than at the start of the year, according to new figures from Abbey . The bank has revealed that 40 per cent of Brits are currently not depositing any money into a savings account each month - an increase of 6 per cent from the start of the year. Director of Savings and Investments at Abbey, Reza Attar-Zadeh, encouraged Britons to start saving, claiming that by putting aside just a small amount each month, they can quickly build a safety net to help protect against unexpected outgoings in the midst of a recession.
There was some good news, however, with the news that savers are managing to save more than they were at the start of the year. The survey suggests that since January, the average amount deposited into savings accounts each month has increased by 26 per cent, to £206 a month. The survey also revealed that 65 per cent of savers had opted for the flexibility of an instant access savings account, whilst only 20 per cent were confident enough in their finances to take out a regular savings account, as interest rates begin to slowly rise again.
Evidence certainly suggests that Brits are focused on saving at present, with consumers repayments on debts exceeding their new borrowings for the first time since 1993.
Bank Reveals Decline in Number of Brits Saving
Financial Services > e-banking > Banking news
Bank Reveals Decline in Number of Brits Saving
Fri, 18 Sep 2009
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