News
Savings levels drop this winter
This winter, the amount of money the population is saving has decreased to its lowest level for over two years, according to NS&I's Savings Survey.
On average, the British public is now setting aside 6.25% of their monthly take-home income. This figure has fallen consistently since this time last year (6.48%), and is at its lowest level since summer 2007 (6.22%).
In pounds, average savings have fallen from £90.12 twelve months ago, winter 2008/09, to £81.94. In addition the average income has fallen to £1,310, from £1,384 last quarter and at its lowest level since Spring 2008 (£1,306).
Examining savings attitudes across the country, savers in East Anglia and the West Midlands recorded positive savings behaviour, managing to set aside more money as a percentage of their income than other areas. East Anglian savers were highest at 7.77% (6.01% in winter 2008/09) with the West Midlands at 6.50% (5.89% in winter 2008/09).
In Greater London the average amount saved per person fell below £100 for the first time in almost two years. On average people in London are now saving £99.45 per month.
