Co-operative: Ideal saving amount over £650,000

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Co-operative: Ideal saving amount over £650,000

Wed 18th Nov 2009

Attitudes towards money vary throughout Britain, with people in East Anglia wanting the largest savings pot, according to the Co-operative.

The average adult in the UK spends £195 a month on non-essential items, saves £219 and manages to overspend by £150.

The average amount of savings is £3,492, but the dream figure is 188 times more at £656,723.

Between regions, the perfect size of a nest egg varies, with East Anglia thinking that £868,000 is the right amount to have stashed away, while in the north east, £389,000 is the sum most people want for a rainy day.

John Hughes, director of retail banking at the institution, said that statistics - which show 72 per cent of people were now spending within their means - were encouraging, as consumers will have some cash set aside to pay for unexpected events.

Earlier this year, the bank was awarded the Which? award for Best Financial Services Provider, which acknowledges the best performance across mortgages, current accounts and credit cards.

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