UK consumers banking on their savings

By Sarah Engle, Wed 20 Apr 2011 - Published in Banking

There is an increased enthusiasm for people banking on their savings in the UK, according to Moneymagpie.com.

The money expert claimed that because of the current economic climate the younger generation have much more of an appetite to save for the future.

Jasmine Birtles, founder of the site, said: "The best savers, or at least the ones keenest on saving, are the young - those in their 20s - because it has hit them the hardest."

She added that people who are currently saving are actually putting more away now because their personal finances have been hit.

Ms Birtles also noted that there seems to have been a sudden realisation that people need to think about their future, and what money they will need to help them live life comfortably.

Recently, Standard Life announced that almost half of UK adults only plan their finances up to a year ahead, and 17 per cent do not think about their money situation at all.

News Categories

News Archive

News: UK consumers banking on their savings