Not enough people saving for the near future
by Kay Murchie
According to Scottish Widows, the investment consultants, there is a shortage of knowledge among the general public when it comes to savings and investments and the group are anxious that nearly 40% of people in the UK do not have a nest egg for the near future.
The comments were highlighted in the Scottish Widows Savings and Investment Report, which studies a variety of features of saving in the UK. It found that 15% of people are only saving 5% or less of their earnings and nearly 40% of parents with grown-up children are shelling out £12,000 from their savings to help their children.
Scottish Widows have suggested that the financial industry work with the government to encourage long-term savings and make the public more aware of finance and investments.
A spokesperson for Scottish Widows said that the Scottish Widows Savings and Investment Report illustrates that attitudes towards saving needs to be changed and we need to promote awareness and urge people in the UK to save.
Discuss this in the Finance Markets forums
Story link: Not enough people saving for the near future
Add to Bookmarks:
Related financial stories to: Not enough people saving for the near future
- Young people should plan for their financial future now
- Women aren’t saving enough for their retirement
- Government keen for people to invest in ISA’s
- Is Saving For Children The Right Route
- Youngsters avoiding debt by saving early
- 20% of Britons obsessed with saving money
- Thirtysomethings face future of poverty
- Government must prevent future flooding
- Saving rates remain the same at Kaupthing Edge
- Elderly people forced back to work
Previous: « Mortgage lenders capitalise on fees
Next: ABN Amro bid revised »
Visited 463 times, 1 so far today