Alliance & Leicester Savings: Brits saving despite credit crunch

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Alliance & Leicester Savings: Brits saving despite credit crunch

Alliance & Leicester Savings has released the results of a survey which show that the majority of Brits managed to put money aside over the course of 2008, despite the financial crisis.

The poll found that over two-thirds of people in the UK managed to save at least some money and 29 per cent of those who saved actually put aside more money than they expected to be able to.

One-fifth of those who managed to save said they had been shaken by the current economic crisis and were planning ahead by building up a savings pot for next year.

Hetal Parmar, manager for savings at Alliance & Leicester, said: "At the end of a rollercoaster year, it's encouraging to see a good proportion of Brits developing a disciplined savings habit by saving regularly."

Recent research by uSwitch.com found that many savings account providers, including Alliance & Leicester, had cut the rates of interest they will pay to some savings account holders by as much as four per cent.

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