Saving encouraged over winter months
www.moneynews.co.uk > Banking > Saving encouraged over winter months
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Money News |
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Saving encouraged over winter months
Mon 26th Feb 2007
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According to the group, indulging in a spot of retail therapy is a common method to stave off the winter blues, with over 13 per cent of people under 30 doing so.
Women (14 per cent) are more likely to splash the cash on retail therapy than men (11 per cent), according to Birmingham Midshires figures.
Higher utility and home maintenance bills also commonly increase the financial squeeze during the winter months.
Describing it as an "expensive time of year", Jason Robinson, director of savings operations for Birmingham Midshires, explained how utility bills could "soar", with financial pressures increasing as retail treats ward off winter blues.
"Setting aside a smaller amount of money each month and leaving it untouched is much better than saving more than what is practical and being forced to raid," he added.
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