Savings accounts are still popular with Brits despite the difficult financial climate.
This is according to a recent survey conducted by Standard Life, which revealed that 41 per cent of Britons saved the same amount of money or more over the course of the last year in comparison with the 12 months before.
However, different age groups showed different attitudes towards savings accounts, with 25 to 34-year-olds the most likely to save. Indeed, 51 per cent of this group set aside the same or more, compared to 46 percent of 18 to 24-year-olds. Just 41 per cent of the over-55s were found to have increased their savings.
John Lawson, head of pensions policy at Standard Life, commented, “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."
