Brits 'planning to spend savings this Christmas'
www.moneynews.co.uk > Banking > Brits 'planning to spend savings this Christmas'
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Brits 'planning to spend savings this Christmas'
Mon 12th Dec 2011
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Research carried out by Santander has revealed that with household budgets tightening and the economic outlook seeming gloomier than ever, many people are turning to their savings to fund a merry Christmas.
The figures showed that one in three people will raid their savings accounts this month, with the average amount being withdrawn standing at £391.
Matt Hall, head of savings at Santander, commented: "With many people dipping into their savings to cover the cost of presents as well as increased winter bills, this year looks set to make a significant dent in the nation's savings."
According to Yvonne Goodwin, managing director of Yvonne Goodwin Wealth Management, Brits should be focused on building a nest egg for themselves to help them handle unforeseen issues or simply to have enough so as not to fall into debt at this time of year.
Click here for more banking news
Related News : Banking |
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