Although the current economic climate makes investments "more challenging", one expert has suggested that financial uncertainty often leads to people building up their savings .
Jason Hollands, head of group communications for F&C, said that during periods when people are "less certain" about their jobs and whether they will receive the same kind of Christmas bonus as last year, many decide to "tighten their belts".
Although the economy is likely to be affected by lower levels of consumer spending, often people choose to "build up their savings" during such times, Mr Hollands commented.
"You tend to find that in a period when the economy is less certain, that is when the savings ratio in the UK gets rebuilt," he remarked.
In related news, National Savings &Investments recently reported that 35 per cent of people admitted to feeling "anxious" if they do not manage to save as much as they wanted to.
The organisation found that a further 47 per cent of Britons worry if they waste money or overspend.
People expected to rebuild their savings
People expected to rebuild their savings
Wed, 21 Nov 2007
Recommended links
UK savings portalToday's best savings accounts
Savings account guide
Savings accounts could soften Christmas, expert claims
National Savings and Investments increases interest rates
A nation of saveaholics
Find out about National Savings Certificates
<% Randomize: ord=int(rnd*1000000000) %>
 %>?)
| savings news |
|---|
| Skipton launches new savings bonds - Wed, 19 Nov 2008 |
| Take out a fixed savings account now, expert urges - Mon, 17 Nov 2008 |
| Credit unions offer good savings accounts, CEO claims - Fri, 14 Nov 2008 |
| More News |
