Britain is a nation with secret savings

Thursday, November 17, 2005

New research has revealed that the UK is a nation with a secret savings bug, with people having hidden savings stashed away for gifts.

A survey by the AA into savings habits revealed that more than a third of those questioned had secret savings stashed away to buy a present for a partner or loved one at Christmas or birthdays.

"This is an encouraging sign," said Lloyd East, general manager of AA personal finance.

"While growing personal debt is a worry, this survey perhaps shows that people are saving to meet the cost of expensive purchases - even if they are doing it secretly!"

The results from the survey also showed that many had savings for a rainy day, with 55 per cent saying that savings were put aside for this.

Nearly two thirds of people with savings keep secret what those savings are for, not discussing it with family members or loved ones.

There are dramatic attitude differences in areas of the UK to savings habits, as whilst one in five Scots has secret savings, only one per cent of Welsh citizens have the same.

Get some help finding the right savings account here:
http://www.europinions-finance.co.uk/savings/savings/
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