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A quarter of Brits 'think saving is very important'
14/07/2008 17:09:00
Research has shown around a quarter of consumers believe saving is very important, compared to nearly half of people who said the same in May.
The study from Nationwide Building Society backs a "sharp decrease" in saving which the company has observed instore and reflects a change in consumer attitudes.
Matthew Carter, director for savings at the institution, says: "Nearly two-thirds of people are not saving as much as they think they need to. If the economic situation gets more difficult, without the money put aside to fall back on, these consumers may find the going gets even tougher."
The data, gathered on 1,000 people by global market information and insight group TNS, also found a fifth of respondents are not saving anything at all.
On a bright note, almost half of consumers believe they will be able to start saving what they require in six months time, according to the survey.
Financial inclusion network Transact said in June the UK has one of the lowest saving ratios in proportion to earnings in the world and "we need to be doing much more" in that regard.
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