17 June 2009
Consumer confidence is restricting many people's ability to regularly save money, according to a new study.
The latest Nationwide Savings Index shows over a quarter of people (26%) do not save anything at all, with less than half (46%) putting money aside on a regular basis.
However, compared to previous results, there has been an increase in the number of people who see the importance of saving as this part of the index grew by 11 points.
"With household financial wealth having fallen significantly as a result of house price and equity market declines, it is more important than ever for consumers to rebuild their savings position for retirement," revealed Andy Hutchinson, Head of Savings at Nationwide.
Earlier this month, Nationwide started to offer a range of savings plans to help out its customers in a low interest rate environment.