Debt management reflected in Brits' renewed commitment to saving
- Thursday, 28 January 2010Britons are increasingly turning to
debt management and taking their savings seriously, according to new figures.
Research from Birmingham Midshires indicates that people have increased their level of savings on a quarterly basis by 136 per cent compared to this time last year.
An average of £776 was saved by Britons in the three months to January 2010, compared with £329 during the same period a year ago.
Head of Birmingham Midshires Savings Products, John Bianco, said it was encouraging to see people saving more and "raiding less".
"In the current economic climate people have revisited their savings habits with a marked increase in people saving for a rainy day."
Meanwhile a new consumer action group has been formed in a bid to encourage policy makers to recognise and support those who have made a commitment to saving.
According to the Save our Savers group, 47 per cent of people are looking to current or future governments to do more to encourage saving and make it worthwhile.
