Santander: People are more efficient savers now

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Santander: People are more efficient savers now

Tue 27th Oct 2009

Santander has commented that people are much more proficient savers now and are finding new ways to cut costs during the recession.

Director of savings and investments at the organisation Reza Attar-Zadeh pointed out that entertaining people at home rather than going out is just one of these changes that people have made.

Research by Santander's UK brand Abbey showed that £3.9 billion is being saved each month by people deciding against going out and doing activities at home.

This includes things such as hiring films rather than going to the cinema and having a takeaway instead of eating at a restaurant.

Mr Attar-Zadeh added: "The recession has made people far savvier when it comes to saving money and millions of us have worked out that 'in-tertaining' is a great way to cut back without missing out."

Last week, Abbey announced that it is extending its range of fixed-rate bonds by launching a two-year product offering four per cent interest.

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