Brits saving for the future

An 'alternative census', carried out by the Post Office, has revealed that despite the difficult current economic climate Brits are now actively saving for the future.

The survey showed that UK residents are beginning to take a more austere approach to their finances with 84 per cent of people looking for the best savings rates to get the most value for their money.

Stewart Fox Mills, head of customer insight at the Post Office, said: "Although many people are stretched financially at the moment, it's clear from our 'alternative census' study that we still have clear aspirations that we are saving carefully to achieve"

The Post Office's nationwide survey revealed that 18 per cent of people claim that saving is their main financial priority, with funding a holiday the main reason for saving.

Younger generations proved to be the biggest savers with 20 per cent of 16-34 year-olds claiming that it has become a priority, many of which were hoping to put away enough money for a deposit on a house.

The latest Legal & General Money Mood survey revealed that around a quarter of men are saving in case they lose their job.

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2010-09-20 12:10:45 © Moneyextra.com