Brits still saving despite recession - NS&I

clock

Britons have been saving more over the last five years - despite having to contend with economic turbulence, including the longest recession in the country's history, new findings suggest.

The NS&I savings survey, which examined the savings behaviour of 50,000 Britons since 2004, shows an overall increase in the amount people have set aside over the last five years. Whereas five years ago the average monthly amount saved per head was £70.23, that number has shot up this year to £83.87 - its highest level since the survey began. Just under half of the population (47%) are now saving regularly, a slight increase from the 2005 figure of 45%. Furthermore, despite severe upheaval in the financial markets over the last 18 months, the amount saved as a percentage of income rem...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Firms who made the Best Places To Work 2024 list

Feel Good Friday: Firms who made the Best Places To Work 2024 list

The Sunday Times’ research on the employers who meet key metrics

Professional Adviser
clock 17 May 2024 • 1 min read
Advice firms need to adopt 'operational excellence'

Advice firms need to adopt 'operational excellence'

‘Operations roles are critical to driving business success’

Isabel Baxter
clock 16 May 2024 • 2 min read
'Finfluencers' face FCA legal action over trading scheme

'Finfluencers' face FCA legal action over trading scheme

FCA targets social media scam, nine people face legal action

Sahar Nazir
clock 16 May 2024 • 1 min read