Over half of the nation believes they are currently not saving enough according to Aldermore
The latest research from Aldermore’s 2017 Annual Savings Tracker reveals that over half of the nation believes they are currently not saving enough. The nation’s inconsistent savings habit may be one of the reasons for these concerns as almost two fifths (37%) only save if they have money left over the end of the month, and nearly a fifth (18%) save a different amount each month.
Commenting on the study, Ewan Edwards, Head of Propositions – Savings, Aldermore says: “Our Savings Tracker reveals that the majority of people (56%) believe they are not saving enough and a significant proportion are not making regular contributions towards their savings pot. The findings also show over one in ten (13%) rely on a bonus when they want to add to their savings. Instead, more people need to set aside a regular amount at the beginning of each month for their savings, making this a lifestyle choice and a consistent habit.
“It is encouraging to see an attitudinal shift from 18-24 year olds when it comes to adopting the savings habit, with this generation starting to save from a younger age. This is positive news, but this age group still believes they are not saving enough and this echoes across the UK. I would like to encourage everyone to make even slight changes to their savings habits, by saving even a small amount regularly and by shopping around to get the best rate as this can make a surprisingly positive difference in the long term.”
Read the latest news item from Aldermore posted 25th October 2017 in full click here.