Nationwide: Savings becoming more popular

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Nationwide: Savings becoming more popular

Mon 8th Dec 2008

Nationwide has published a new study which shows that the numbers of Brits saving regularly has grown over the last month.

The building society claims that the proportion of people saving regularly increased from 47 per cent to 52 per cent between October and November this year, a statistic Nationwide believes may be linked to a reduction in customer's outgoings thanks to the Bank of England's base rate cuts.

A third of those surveyed now think that saving is very important, an increase on last month's figure.

Matthew Carter, director for savings at Nationwide, said: "We believe it has never been more important to put money aside to help households weather the current financial storm. Consumers seem to recognise this."

Recently, a survey of UK customers by independent price comparison site moneysupermarket.com revealed that Nationwide is the most trusted institution for savings accounts.

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