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.
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