Nationwide: Saving a necessity for one in four

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Nationwide: Saving a necessity for one in four

New research from Nationwide has revealed that people in the UK believe that saving is not as important as it used to be.

A report from the high street bank found that 26 per cent of consumers thought saving was very important, compared to 49 per cent in May and 46 per cent in April.

Despite this, 48 per cent revealed that they think they will be putting aside what they need to in six months' times.

According to Nationwide director for savings Matthew Carter, this latest research is "concerning".

"The increasing cost of living is clearly having an impact on household finances and consumers are prioritising bills over their savings," he said.

Meanwhile, research from money charity Credit Action has revealed the amount of arrears people in the UK are currently in.

The organisation stated that Britain's personal debt mountain in more than £1.4 trillion.ADNFCR-323-ID-18683411-ADNFCR

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