Nationwide Importance of Saving Index 'rises by 11 points'

www.moneynews.co.uk > Banking > Nationwide Importance of Saving Index 'rises by 11 points'

Nationwide Importance of Saving Index 'rises by 11 points'

Wed 17th Jun 2009

Brits are becoming increasingly aware of the benefits of saving, perhaps having been forced to re-evaluating its importantce due to the current recession.

These are the findings of the latest Nationwide Importance of Saving Index, which rose by 11 points this month despite the actual Savings Index being at its lowest point yet.

Almost two-thirds (60 per cent) of consumers said they believe saving to be important, while around one in five said they will save more in six months time than they do now.

Nationwide's head of savings Andy Hutchinson stated: "With household financial wealth having fallen significantly as a result of house price and equity market declines, it is more important than ever for consumers to rebuild their savings position for retirement."

This week, Nationwide offered a four per cent gross AER on its one-year fixed-rate Guaranteed Savings Bond for those who open its Guaranteed Equity Bond alongside it.

Click here for more banking news

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : Nationwide
	Nationwide launches new credit card reward scheme
	ICB report recommends easier current account switching
	Mortgages are cheaper than two years ago, claims study
	Students fail to take out insurance 'due to apathy'
	Demand for fixed rate mortgages 'increases in economic uncertainty'
	Nationwide reduces rates on five-year fixed mortgages
	Intermediary mortgage lending 'increases for second quarter'
	Nationwide improves mortgage products for intermediaries
	Nationwide reduces fixed mortgage rates
	NLA survey reveals landlords jittery over possible rate increases