Brits are "actually savers not spenders"

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Brits are "actually savers not spenders"

Mon 29th Jan 2007

The current fear of Britain being a nation of spenders with little regard for saving is unfounded, new research carried out by the online credit monitoring service from Experian, CreditExpert has shown.

CreditExpert's Nation of Financial Planners Study discovered more than half of people in the UK (51 per cent) believe themselves to be fully in control of their finances.

Furthermore, 66 per cent of Brits said they currently have investments and savings. Also, men were found to be more savings savvy than women with 32 per cent of males having a range of savings to fall back on compared with 16 per cent of females.

Jim Hodgkins, managing director at CreditExpert, stated: "It's encouraging to see that the majority of Brits claim to be financially savvy and careful with how they spend their money."

Demographically, the north of England and Scotland are the most likely to keep their money in their piggy banks while so-called splurgers can call London their home with one in 14 per cent of Britons from the English capital saying they have poor financial management skills.

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