A new survey by National Savings and Investments (NS&I) has revealed that one in seven Brits has never deposited any money into a savings account . The survey quizzed UK residents, and as well as finding that 15 per cent of consumers had never saved money using savings accounts, the responses also exposed an age trend. The average age at which consumers begin saving was found to be 25, while many Brits wait until their 30th birthday to begin saving, and 13 per cent do not save until they are 40 or older.
John Prout, from NS&I, urged consumers to view saving as a long-term commitment, and not to save as a knee-jerk reaction to major events. His warning follows the finding that 32 per cent of people said they had saved at some point in time, but had not been able to carry it on.
The survey is the latest report to suggest that a section of British consumers are ostracised from the financial services industry. The Better Banking Campaign recently reported that 1.8 million people don't have a current account with a bank, while between 5 and 7 million Brits are refused access to personal loans, credit cards and overdrafts .
Banks Ponder Finding that One in Seven Brits Has Never Saved
Financial Services > e-banking > Banking news
Banks Ponder Finding that One in Seven Brits Has Never Saved
Fri, 26 Feb 2010
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