Alliance & Leicester savings finds few investing for Xmas
www.moneynews.co.uk > General finance > Alliance & Leicester savings finds few investing for Xmas
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Money News |
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Alliance & Leicester savings finds few investing for Xmas
Mon 6th Dec 2004
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But, despite repeated warnings about the state of the financial education in UK, Alliance & Leicester's wealth tracker index found that teenagers (16 to 19-year-olds) were the most prudent, with 46 per cent of them putting money away to fund their holiday spending plans.
Alliance & Leicester found that of the 35 per cent of people who did save money for Christmas, the average amount put away is £182.13 - £30 less than last year.
"Many families are left counting the costs of Christmas well into the new year, so it's a concern to see that only a third of Britons have saved any money this year," noted Nathan Barber-Kebby, product manager for savings at Alliance & Leicester.
"Christmas is an expensive time and our findings indicate that people are either intending to buy on credit, or will spend less cash in the shops this winter.
"I would encourage people to start saving early next year, saving even a small amount each month throughout the year can help to relieve the financial hangover people so often experience in January."
Those in their 50's have saved the least for the festive season, with 70 per cent not putting anything aside. The only age group Alliance & Leicester found who saved more than last are those in their 20's. This group put an average of £193.87 away each, compared with £187.35 in 2003.
Related News : General finance |
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Related News : Alliance & Leicester |
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