This year not good for savers

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This year not good for savers

As many as 12 million people in the UK did not save so much as a penny during 2006, new research from Alliance & Leicester suggests.

A total of 19 per cent admitted to not saving as much money this year as they had previously planned and 42 per cent of those surveyed said that they could not help themselves from raiding savings throughout the year.

The research comes at a time where customers are urged to take advantage of the Alliance & Leicester's Premier Regular Saver that offers a rate of 12 per cent. There is six weeks left for people to embrace the offer before it is withdrawn on February 7th 2007.

Helen Palmer, head of current accounts at Alliance & Leicester, remarked: "Despite ambitious plans for the year ahead, unless people commit to saving a set amount on a monthly basis it is highly unlikely that they will get round to saving any money at all."

Next year could be the time for people to become savers as 82 per cent have stated an intention to get on top of their savings.

Interest is paid on maturity on the Alliance & Leicester Premier Regular Saver and the account is only available to customers with a Premier Current Account.

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