Single savers on the increase

The number of single people who are looking for the best savings rates to make their money work harder for them is increasing, according to research published by Halifax.

Halifax's research found that more than three-quarters of savers with partners keep their savings account separate from their partner and almost half of single savers say they save more because they do not have a partner to rely on financially.

The proportion of single person households has risen significantly over the past four decades from 19 per cent in 1971 to 33 per cent in 2009.

Flavia Palacios, head of Halifax savings, said that it is interesting to see how social changes have affected the way people save their money and prepare for their financial future.

She added: "It is encouraging to see, regardless of relationship status, individuals are thinking about their financial stability."

Three-quarters of singletons who took part in the survey stated that it was important to enter into a new relationship with their own financial security, which means saving while single.
 

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2010-11-12 14:15:40 © Moneyextra.com