Many Brits are struggling to save according to Lloyds Bank
The latest Lloyds Bank Quarterly Savings Review reveals that many Brits are still struggling to save. The majority of reasons given for not saving reflect a common feeling of pressure on personal finances, leaving people unable to save.
More than a quarter have not put any money into savings in the past 12 months according to Lloyds Bank.
Mark Rawcliffe, Head of Variable and Wealth Savings Products, said:
“The desire to save is there, and its importance has not been lost on the people of the UK. However, it’s true to say that some are feeling so squeezed by their own living costs that they are unable to put money aside.”
“For these people, innovative ways to save may be the answer. Tools like our own Save the Change can help to round up the pennies and put them to one side, helping to build a savings buffer over time for those that weren’t able to save last year.”
Read the Lloyds Bank Quarterly Savings Review 26th November 2018 in full click here.