The Department for Work and Pensions report into savings behaviour and key life events has been released.
The survey analysed key data from 1991 to 2000 and found impact as follows: In 2000, 43% of adults saved part of their income with 30% doing it regularly. The average being £154 pm.
Key decisions on whether people would save or not was based uipon their own views or feelings on the matter. People feeling "financially comfortable" were 2.6 times more likely to save. 24% of savers actually stopped saving becoming non-savers and 28% on non-savers actually became savers. Decisions to increase or decrease savinsg where based upon financial position, employment, divorce etc.
Our view
Another completely useless report! This is common-sense, when you have a job or feel financialyl comfortable you are able to save, when you don't - you don't!