Rainy day savings 'being made by numerous people'

By Sarah Engle, Thu 24 Feb 2011 - Published in Banking

Rainy day provisions are being focused on by almost one quarter of the country's savers right now, it has been suggested, which may interest those who are looking to compare money saving products.

Some 24 per cent of the monthly savers who were included in a study from Confused.com reported that they are putting money aside either for no particular reason or for a rainy day.

Weddings, retirement, cars and property deposits were among the other inspirations that were said to be encouraging people to save cash, the site revealed.

Discussing the issue of saving goals, the firm's head of savings Chris Griffiths commented: "Rewarding yourself with a small treat when you reach a certain goal can make it [saving] feel much more worthwhile."

Meanwhile, the Confused.com head of life insurance Matthew Lloyd recently addressed life cover products, with the commentator saying that this form of protection should be talked about by couples in the UK.

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