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Brits 'disappointed with savings'

Brits 'disappointed with savings'

Brits 'disappointed with savings'Friday 19th December 2008

Many UK people failed to save as much money as they would have liked this year, suggesting that paying off debts could be more of a priority.

According to a survey from Alliance & Leicester Savings, 19 per cent of Britons did not put as much money as they intended into their savings during 2008.

Furthermore, 18 per cent admitted that they dipped into their savings to meet extra costs and manage bills over the course of the year.

When questioned about their new year's resolutions, 26 per cent of people said they will aim to cut down on spending in 2009.

"Finances are clearly a big priority for us next year, with Brits wanting to cut down on their spending and to save more of their hard-earned cash," commented Hetal Parmar, manager for savings at Alliance & Leicester.

Recent research from Abbey Credit Cards indicates that many people are planning to reduce their spending before 2009 gets underway, as 31 per cent said they will shell out less than normal on Christmas presents this year.

News article brought to you by Debt1 – UK debt management specialists.
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