1 September 2006
A detailed report has cast light on the savings situation currently facing Britons.
NS&I's Quarterly Savings Survey has indicated that the average person in the UK has £17,271 in savings, not including pension contributions.
Men were found to have significantly more stashed away than women, at £20,335 compared to £14,167, meaning many women expect their partners to make up the difference.
In addition, the past year has seen a 10.3% increase in the amount put away regularly 12 times a year.
However, although more money is being saved each month, the 54% of the population that puts money away is no improvement on the last few years.
"We would like to see more people putting money away on a regular basis as part of a more disciplined approach to saving," commented NS&I's senior savings strategist Dax Harkins.
"Our results show that people who take this approach end up with a savings pot almost twice the size of those who only save sporadically."
Women aspire to save 15.80% of their take home pay, compared to 13.59% for men.
Compare current accounts and find the best current account for you with the uSwitch.com's free comparison service.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.