AA: Savers stick to their resolutions

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AA: Savers stick to their resolutions

Thu 25th Feb 2010

Many more people are choosing to but money into their savings accounts this year compared to in 2009, according to the AA.

The insurance group, which also offers banking and credit card facilities, has found that not only are more people saving compared to this time last year, they are also putting a higher sum of cash to one side.

Mark Huggins, director of AA Financial Services, said that there is normally a fall in how much money is saved around Christmas, but this year has been different.

He stated that he thinks the recession has led people to cut down on luxuries and as a result they have found they have more surplus cash that before.

The average balance held in an AA savings account has increased from £18,300 to just over £21,300.

AA Credit Cards has announced that it has extended its zero per cent on purchases deal to be available through several price comparison website, after its initial release through moneysupermarket.com.

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