New research has revealed that, this winter, the amount of money the UK population is saving has decreased to its lowest level in more than two years.
According to NS&I's Savings Survey, the average person is now setting aside 6.25 per cent of their monthly take-home income, in comparison to 6.48 per cent in 2009.
Indeed, the figure is currently at its lowest level since the summer of 2007, when it was at just 6.22 per cent.
As a consequence of the findings, Tim Mack, senior savings spokesman at NS&I, urged savers to make sure they are prepared for the start of the new tax year.
"With the new financial year approaching, now is a good time for people to take a closer look at their finances and set themselves savings goals for the year ahead," he said.
The Fidelity FundsNetwork, meanwhile, recently suggested that the new individual savings account (ISA) allowance, which comes into effect from the start of the tax year, is to cause a surge in the popularity of ISAs .
Survey reveals drop in savings
Financial Services > Saving Accounts > News
Survey reveals drop in savings
Thu, 04 Mar 2010
Recommended links
Find the best savings rates and accountsSavings enquiry form
High interest savings accounts
High interest savings accounts
Compare current savings accounts
Save money on broadband costs
Savings account providers
Building societies best for savings, says survey
Brits do not have emergency savings, says survey
Brits keep savings under the mattress, says survey
Half of pensioners rely on savings, says survey
| Savings Account news |
|---|
| Survey: Men twice as likely to have secret savings account - Tue, 07 Sep 2010 |
| Rise in Isa subscription amounts is no big surprise, says expert - Thu, 02 Sep 2010 |
| Millions facing lowest returns on pension savings - Tue, 31 Aug 2010 |
| More News |
