NS&I: Brits spending extra cash on fun instead of saving

www.moneynews.co.uk > General finance > NS&I: Brits spending extra cash on fun instead of saving

NS&I: Brits spending extra cash on fun instead of saving

Wed 3rd Jun 2009

According to the latest National Savings & Investments (NS&I) quarterly Savings Survey, Brits are using the money they believe they are saving on lower bills and outgoings this summer on fun rather than saving.

The survey found that 42 per cent believe they pay around £75 a month less for their bills and groceries during the summer. However, it also found that 48 per cent will spend more on leisure activities as the weather heats up.

A further 39 per cent said they are more likely to splash the cash in bars and restaurants as they spend more time with friends.

"It's great that many essential household costs are less during the warmer months, but Brits would be wise to try and make the most of these savings by putting some of this money away," said NS&I savings strategist Dax Harkins.

A recent survey conducted by prudential among its financial advisers found that 43 per cent of them do not think that their clients' retirement plans are on track.

Click here for more general finance news

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued