11 May 2009
The first quarter of this year saw more Britons putting cash to one side, it is believed.
Statistics compiled by Birmingham Midshires show the average person saved £597 in the first quarter of this year, marking an 82% increase on the previous quarter.
"The emergence of a society which places a higher priority on saving for the future, rather than spending for the moment, could be the positive effect of the current downturn," observed Tim Hague, Director of Savings and Investments at Birmingham Midshires.
However, 37% of those questioned admitted to having raided their savings in the first three months of 2009, taking out an average of £367 each.
A press release from uSwitch.com found that 51.6% of savers have no idea what level of interest they are earning on their main savings account.