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Newsletter

Brits 'will start saving again'

By Sarah Engle, Thu 5 Jun 2008 - Published in Banking

As the recent "spending glut" in the UK comes to an end, people will start investing more money in savings, according to an independent financial adviser.

Donna Bradshaw from IFG Financial Services said that the country has had "an obsession with property" over recent times because "money has been very cheap".

However, she added with the credit crunch we can expect to see a "shift back to saving".

Ms Bradshaw also said that investing in shares was a good way to gain financially.

Commenting on the stock market, she stated: "I think we should probably not pay very much attention to what it does on a daily basis and actually look at the fundamentals over the longer term, and investing in equities gives the highest returns."

The highest ever monthly deposits into cash individual savings accounts (Isa) helped to make April a record-breaking month for building societies, the Building Societies Association has reported.