- Monday, 7 December 2009The low interest rates experienced during much of the recession could reduce the likelihood of people coming to rely on debt help.
According to the price comparison site Moneyfacts.co.uk, people who rely on their savings as part of their income could be benefitting from lower interest rates, as it potentially increases disposable income and maximises saving potential.
Darren Cook, spokesperson for the website, said: "[The people that] low interests rates are affecting are the individuals … who rely on their savings to supplement their income and lifestyle.
"In some cases [low interest rates have] increased people's disposable income and therefore [increased their] ability to save."
Mr Cook made his comments following research from National Savings & Investments (NS&I), which revealed that the proportion of take-home income that people put aside as savings has remained relatively constant over the past five years.
According to the NS&I, the individual savings ratio has remained constant at around six per cent.
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