Recession hindering Brits from saving, finds Scottish Widows
www.moneynews.co.uk > General finance > Recession hindering Brits from saving, finds Scottish Widows
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Recession hindering Brits from saving, finds Scottish Widows
Wed 3rd Jun 2009
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According to the survey, 85 per cent of respondents said that they simply do not have the spare money required to start saving - a figure which has increased from 50 per cent since last year's poll.
A further 42 per cent of people have increasing numbers of debts to pay which they cite as a major hindrance when it comes to saving cash - a ten per cent rise from 2008.
Savings expert at Scottish Widows Anne Young said: "While paying off debts should still be a priority, in climates like these, it is important to save even a small amount now to get into a saving habit and build up some capital."
This week, Barclays reduced the interest rates on its Barclay Children's Savings account.
Click here for more general finance news
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