Saving money remains a priority for Britons while they try to pay off their debts, according to new official figures.
In the last quarter, Britons saving money put aside an average of £174.43 each, National Savings and Investments found.
The government-backed savings provider says this is the highest proportion of pay saved since records began last year.
"It is extremely encouraging to see so many savings records being achieved," says the senior savings strategist at National Savings, Dax Harkins.
Young Britons are setting an example for older people. Those aged between 16 and 34 save a total of 12.62 per cent of their income.
National Savings reveals that in the age group 55 to 64, saving money is becoming less important. Less than half of people in this group are saving money on a regular basis, while only 41 per cent of those older than 65 are putting money aside.
"A savings gap is emerging between those who are saving increasingly well, and those who are doing very little or nothing at all," Mr Harkins points out.
"Some of this may stem from the fact that record numbers of people are struggling with bankruptcy and personal debts, but more needs to be done to encourage a greater number of people to save more and save regularly if we are to address this."
National Savings: Young savers set example
National Savings: Young savers set example
Thu, 15 Dec 2005
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