Britons feel govt does not encourage saving
15.10.2008
The majority of Britons believe the government does not promote putting cash into savings accounts and some feel it actively discourages them, new research shows.
A survey conducted by Nationwide reveals less than a fifth of people think they are encouraged to put money aside.
More than four in ten respondents said they feel discouraged.
The director of savings at the bank Matthew Carter said consumers are failing to put monthly sums away, despite the importance of having such a financial cushion.
He said it is an important time to make savings "which is why we urge the industry and government to work together to help educate people about the importance of building their own nest-egg".
Research conducted earlier this month by Lloyds TSB revealed almost two in five Britons admit they are currently putting less cash away in savings accounts than in previous years.
It found four in ten families have amassed savings of less than £500.
A survey conducted by Nationwide reveals less than a fifth of people think they are encouraged to put money aside.
More than four in ten respondents said they feel discouraged.
The director of savings at the bank Matthew Carter said consumers are failing to put monthly sums away, despite the importance of having such a financial cushion.
He said it is an important time to make savings "which is why we urge the industry and government to work together to help educate people about the importance of building their own nest-egg".
Research conducted earlier this month by Lloyds TSB revealed almost two in five Britons admit they are currently putting less cash away in savings accounts than in previous years.
It found four in ten families have amassed savings of less than £500.