Fixed rate bonds provider Legal & General highlights saving trend

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Fixed rate bonds provider Legal & General highlights saving trend

A finance expert from Legal & General has suggested the employment situation in the UK is having a significant effect on people's saving habits.

Mark Gregory, executive director of savings at the firm, made his comments after research by the organisation showed more men are putting cash aside so that they are in a better position in the event of them becoming unemployed.

He noted that public sector cuts are likely to be worrying people, while a recent Office for National Statistics survey showed that the number of workers in part-time roles is at its highest since records began in 1992.

"It's not surprising that the focus of saving is turning to meeting short-term needs, such as saving in case you lose your job," said Mr Gregory.

Last week, Legal & General announced the results of its MoneyMood survey, which showed that more women are saving for home improvements than men.

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