Two-fifths (41%) of Britons have saved the same amount of money, or more, in the last year compared with the same period 12 months before, according to research by Standard Life.
The findings, by the long-term life and savings’ company, show that despite the backdrop of austerity measures and fiscal tightening the public is still being financially responsible.
25 to 34 year olds were the most likely to save with more than half (51%) setting aside the same, or more, savings since last year, when measured against the same period the year before. They’re followed by 18 to 24 year olds (46%) and the over 55’s (41%).
John Lawson, Head of Pensions Policy at Standard Life, said: “It is encouraging to see that even when the public is faced with increasing financial pressures, with inflation pressures and rising utility costs to name but a few, they’re taking the sensible approach by saving their money.
“Savings, whether it is for a new home, holiday or the long term is vitally important. People don’t have to set aside a lot of money to feel the benefit of an investment in the future. Whether it’s putting it into a mutual fund, pension or ISA, a little is better than nothing at all.”
Regionally the North East (48%) is saving the same or more in the past year, with East Midlands (46%), London (45%), Wales and Scotland (both 44%) closely behind. These are followed by the North of England (43%), Northern Ireland, Yorkshire & Humber (both 42%), South East, North West, East of England (all 40%) and the West Midlands and South West (36%).
Source : Standard Life
