 |
|
|
|
||||||||||||||||||||||||||||||
 |
Media centre /
Press releaseBRITS MAINTAIN SAVINGS – BUT ALMOST HALF ARE LESS LIKELY TO SAVE IN THE COMING MONTHS12 December 2008
Despite the expectation that savings levels might drop this autumn, the British population managed to maintain the amount of money set aside with saving levels averaging 6.4% of income in both summer and autumn 2008. The population’s longer term savings behaviour seems to be more of a concern, as the average amount saved as a percentage of income has declined. The amount saved as a percentage of income has fallen every autumn since 2005 (7.16%) to its lowest autumn figure (6.4%) since the Quarterly Savings Survey began - in contrast, income levels have steadily increased. The Survey suggests that this decline may continue; 45% of the population think that they are less likely to set money aside in the coming three months, compared to 33% this time last year. Still, over the next year a quarter (25%) of people say they are more likely to save money. Regular savers remain committed, however, increasing the amount that they put away. This quarter it is more than 17% higher than autumn 2004 (£191.50 from £163.40), almost double the percentage increase in average income, 8.9%. While this is positive, it is a concern that the amount in pounds set aside by regular savers dipped from summer (£193.07) to autumn 2008 (£191.50). Dax Harkins, senior savings strategist from NS&I said: “It is encouraging that in these uncertain times the population has managed to keep steady the percentage of income it set aside earlier in the year. However, the downward trend in savings over time is worrying as more than a third (32%) of savers currently do not have enough in savings to cover an emergency. It is now more important than ever both to take control of spending and to have an emergency fund set aside.” ENDS Notes to editors Further information on personal finance is available at: www.youandyourmoney.info Quarterly Savings Survey For a copy of NS&I’s Quarterly Savings Survey, case studies or further information on the statistics supplied in this release please contact the NS&I media team. Previous copies of the survey are available from http://www.nsandi.com/press-room/savingsurvey/index.jsp. Selected regional data is also available on request. The telephone survey, was carried out by TNS among 3045 GB adults aged 16 and above between 6 September and 2 November 2008. Dax Harkins and other senior spokespeople are available for interview and high-resolution photographs can be supplied. Contact the media team to arrange an interview or request photographs by email. About NS&I NS&I is one of the UK’s largest financial providers with 28 million customers and over £85 billion invested. It is best known for Premium Bonds, but also offers Inflation-Beating Savings, Guaranteed Equity Bonds and Children’s Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury. NS&I products are available over the telephone, internet, post and by standing order. They are also available through a network of Post Office® branches. Customers can also pick up brochures for our Premium Bonds, Inflation-Beating Savings and Income Bonds at retailer WHSmith in 400 of its High Street stores and 155 of its travel stores.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
|
|
Search |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
 |
|
|
||||||||||||||||||||||||||||||
