Workers need 'bigger bonuses to save'

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Workers need 'bigger bonuses to save'

Bonuses will need to increase if the extra money is to go straight into the savings kitty, according to research conducted by Alliance & Leicester Savings.

Over a third of people in the UK receiving a bonus said that it would have to at least double before they began putting the money aside for a rainy day.

Alliance & Leicester Savings discovered that 40 per cent of those receiving a bonus this year - around four and a half million Brits - will spend all of their bonus.

Ross Dalzell, manager for savings at Alliance & Leicester, commented: "It's amazing that all the hard work that goes into securing a bonus or pay rise can be spent in just an instant."

He went on to state that at least some of the bonus should be saved in view of the fact that 79 per cent of those surveyed had mentally spent their extra cash before even receiving it.

A total of seven per cent were found to be heeding Mr Dalzell's advice and saving their bonus in its entirety.

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