Moneynet.co.uk: People are getting smarter with money
www.moneynews.co.uk > General finance > Moneynet.co.uk: People are getting smarter with money
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Moneynet.co.uk: People are getting smarter with money
Thu 1st Oct 2009
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Andrew Hagger, a spokesperson for the organisation, made his comments following the news from the Office for National Statistics which indicated that the household saving ratio is up to 5.6 per cent in the second quarter of this year, from 3.9 per cent in the first three months.
He pointed out that the number of people who have lost their jobs over the past year or so has meant people have had to reassess how they manage their finances.
Mr Hagger explained: "People are now getting a bit wiser with their cash, putting it away to cover emergencies or unforeseen events such as unemployment."
In his view, a contributing factor to the increase in saving has been that fixed-rate interest savings accounts have become more competitive over the past half a year.
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