Smile.co.uk: Brits planning to save more

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Smile.co.uk: Brits planning to save more

Research conducted recently by smile.co.uk has revealed that many Brits are planning to put more money aside this year to help them deal with the recession.

Smile.co.uk, which is the online banking subsidiary of the Co-operative Bank, found that the credit crunch and the events of the last year lead more than two-thirds of Brits to change their attitude to saving.

On average, Brits saved £1,882 last year, but are planning to increase that figure by 35 per cent in 2009, putting aside £2,605 in the year ahead.

John Barker, head of savings at smile.co.uk, said: "With the uncertainty in the current economic climate […] many people are now changing their behaviour and reverting to the ways of previous generations, when saving up for things was the norm."

Recently, smile.co.uk came out top in a customer satisfaction survey conducted by Which?, a consumer magazine.

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