According to the latest research from National Savings, those who save regularly are putting more money aside.
However, a fifth of us are not saving anything at all.
National Savings conduct surveys quarterly, and results detailing the last quarter have shown the usual seasonal improvements in amounts saved.
In contrast, a third of those who took part in the survey said that they expect to save less in the next quarter than in the last.
The survey found that:
• The amount saved each month rose from £81.43 to £91.15 per person;
• 1/5 people boost their savings with money earned through their hobbies
• The average amount saved, in terms of percentage of income, rose from 6.22% to 6.81%
• The average amount saved monthly by regular savers was the highest ever at £184.36
• There were fewer regular savers than in the same period in 2006
• 49% of the population do not save regularly
• 18% of the population do not save at all
The research showed that people ideally want to save more but doubted their ability to do so in future months.
With the current situation as it is, institutions are finding it hard to borrow from each other so are trying to entice customers with good savings rates.
Why not use our 'compare savings accounts' service to see if you can make the most of these enticing rates.
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