Savings 'affect quality of life'

The majority of UK districts with the best quality of life also contain those with the largest pot put aside and the best savings rates, it has been suggested.
 
Research published by Halifax has shown that 13 out of the top 20 areas also have high savings balances, with 9 of the 20 areas with the highest savings falling within the regions for the best quality of life.
 
Only four areas among those with low savings come within the top 50 areas for quality of life, highlighting the importance of obtaining the best savings rates.
 
Nitesh Patel, an economist at Halifax, said that the pattern is not an absolute correlation and that this should be taken as good news.
 
He added: "It is in many ways encouraging to see that there is not a direct correlation between the quality of life ranking and the level of savings balances, with keen savers showing it is important to build a healthy savings pot regardless of location."
 
A recent poll by Scottish Provident has found that half of Brits would have to dip into their emergency savings if they lost their job.

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2011-09-05 11:55:49 © Moneyextra.com