Consumers 'clearly making the effort to save'
17/08/2006
Britons have been raiding their savings throughout the summer months to fund holidays and weekend breaks.
However, "the savings message is getting through", according to Birmingham Midshires, the company that has been tracking the nation's savings habits over the last few years.
The latest research from Birmingham Midshires' Saving Britain campaign suggests that 29 per cent of Britons raided their savings accounts during the last three months.
Figures show that Londoners were least likely to raid their savings and northerners were most likely to tap into their money reserves.
Additionally, those who did raid their savings used an average amount of £390, which is an increase of 46 per cent on three months ago.
Jason Robinson, director of savings operations for Birmingham Midshires, commented on the findings, saying: "We have been tracking savings habits for a number of years with our Saving Britain study and over time we've seen that the savings message is getting through.
"People are clearly making the effort to save; the hard part however is leaving the funds in savings and not spending them. This comes from planning and commitment and we always encourage savers to try and be realistic in what they put away."
Birmingham Midshires' Saving Britain campaign is a public awareness scheme that looks into the nations' saving habits on a quarterly basis.
However, "the savings message is getting through", according to Birmingham Midshires, the company that has been tracking the nation's savings habits over the last few years.
The latest research from Birmingham Midshires' Saving Britain campaign suggests that 29 per cent of Britons raided their savings accounts during the last three months.
Figures show that Londoners were least likely to raid their savings and northerners were most likely to tap into their money reserves.
Additionally, those who did raid their savings used an average amount of £390, which is an increase of 46 per cent on three months ago.
Jason Robinson, director of savings operations for Birmingham Midshires, commented on the findings, saying: "We have been tracking savings habits for a number of years with our Saving Britain study and over time we've seen that the savings message is getting through.
"People are clearly making the effort to save; the hard part however is leaving the funds in savings and not spending them. This comes from planning and commitment and we always encourage savers to try and be realistic in what they put away."
Birmingham Midshires' Saving Britain campaign is a public awareness scheme that looks into the nations' saving habits on a quarterly basis.
