NS&I encourages consumers to utilise high interest savings accounts

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NS&I encourages consumers to utilise high interest savings accounts

Wed 11th Aug 2010

Consumers that are worried they do not have enough cash put aside to deal with an emergency may need to increase the amount they save, according to a spokesperson for NS&I.

Tim Mack made his remarks after the publication of the company's savings survey, which indicated that half of adults in the UK are committed to saving at least a small amount of money every month.

He suggested that people must ensure they are building up some reserves of cash in order to achieve financial peace of mind.

NS&I's report showed that Brits saved an average of £85.21 each month in the second quarter of this year, up from £81.94 in the first three months of 2010.

"It is encouraging news that many of us are managing to put a few more pounds away each month," added Mr Mack.

Last week, the firm revealed that its premium bond millionaire for August is a woman from Barnet.

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