Brits’ savings soar

Nia Williams

January 27, 2010

In the three months to January 2010, Britons saved an average of £776, compared with £329 during the three months to January 2009. However, this is less than the £849 saved in the three months to July 2009.

It also seems that although two in five British adults (38%) admit to raiding their savings during the same period, the average raiding amount has reduced to £1,724 from an all time high in July 2009 of £2,191.

Commenting on the latest findings, John Bianco, head of Birmingham Midshires Savings Products, said: “It is encouraging to see that people are taking their savings seriously, putting away more and raiding less. In the current economic climate people have revisited their savings habits with a marked increase in people saving for a rainy day.”

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