- Thursday, 11 February 2010The recession has failed to impact on many Brits'
debt management commitments, with more than half managing to continue saving.
New research from financial services provider Barclays reveals that 17 per cent of people have even managed to save more during 2009, as a result of better paid jobs, a reduction in mortgage repayments and not spending as much.
What's more, the younger generation are also making a commitment to managing their finances.
Some 67 per cent of those aged 16 to 24 have not had their savings impacted by the recession, with a quarter stating they have managed to increase the amount being put aside.
Head of savings for Barclays Andy Gray said the results indicated many people were perhaps changing their lifestyle to boost or maintain savings.
"The sharp lessons of the recession haven't been lost on some people," he said.
"We're hopeful that this is an enduring change … and perhaps the younger generation who have never really experienced a downturn like this before, are being influenced by older members of their family."
Head of research at MoneyExpert.com Pierre Williams recently stated that borrowers have been "shocked into action" by the recession and were now looking to rapidly pay off their debts.
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