Saving becomes harder in credit crunch Britain
Saving becomes harder in credit crunch Britain
Monday 15th December 2008
Research conducted by National Savings and Investments (NS&I) found 45 per cent of people in the UK expect the amount they save over the next quarter to fall.
Meanwhile, the amount people save as a proportion of their income is also on the wane, although over the past six months the average savings level has remained steady at 6.4 per cent of income.
"The downward trend in savings over time is worrying as more than a third (32 per cent) of savers currently do not have enough in savings to cover an emergency," commented Dax Harkins, senior savings strategist at NS&I.
"It is now more important than ever both to take control of spending and to have an emergency fund set aside."
A previous survey by SN&I found Britons were being more creative with presents this Christmas as they try to cut down on expenditure.
News article brought to you by Debt1 – UK debt management specialists.
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