Nationwide urges savers to keep on saving

Money News

www.moneynews.co.uk > Banking > Nationwide urges savers to keep on saving

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Nationwide urges savers to keep on saving

Nationwide has advised people to resist the urge to cut back on saving as the recession begins to bite.

A spokeswoman for the building society said that the economic downturn is likely to lead to a decline in saving, which could leave people vulnerable if incomes were to fall suddenly.

"It is always important for consumers to save, regardless of the current economic situation," she said.

"By regularly putting money aside consumers will have peace of mind that they have something to fall back on should they need it."

The spokeswoman also said that by saving now, consumers can build up a nest egg ahead of any rise in interest rates.

Nationwide's comments follow the publication of a report by NS&I which showed that Britons have saved an average of £86.35 a month over the last year.

The number of people saving each month remained constant throughout 2008, with 47 per cent putting money aside on average.

Click here for more banking news.
ADNFCR-323-ID-19105503-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Nationwide

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet