Britons are turning their attention to saving as predictions for a deepening of the economic recession through 2009 make worrying headlines.
A recent survey by Alliance & Leicester found that 29% of people questioned had been cutting back on their spending to save more.
The research also revealed that 48% of savers use the Internet to find the best rates.
Among young adults the urge to save was even greater, with 36% making sacrifices to bump up their deposits and 56% using the Internet choose a provider.
Meanwhile, 31% of people surveyed said they made savings decisions based on intelligence from family and friends.
Twenty-two per cent sought guidance from an independent financial adviser and 19% turned to daily newspapers.
Earlier this week, Nationwide reported that the proportion of Britons saving regularly had increased to 52% between October and November, up from 47% a month earlier.
The building society suggested that the rise reflected recent cuts in the Bank of England’s base rate, which have eased family budgets.
Source : Here
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