Britons Saved More This Winter

Briton’s Saved More This Winter

Briton’s have saved more this winter according to the latest survey from National Savings and Investments.

Britons are saving more although the final quarter was a good end to a bad year.  When asked about their savings goals, the average monthly savings target was found to be £180.91.  However, many said they felt it would not be possible to put the pennies away.

The survey also revealed there was a slight increase in the amount that people wanted to save as a percentage of their monthly income, with the figure rising from 13.37 per cent in summer 2007 to 13.52 per cent in the autumn.  

Our view

Given that interest rates were increased all through 2007 it is no wonder that people are tightening their belts both to pay more off their mortgage and to take advantage of higher interest rates on savings.

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