Jun 13 2008
Almost half of all adults in the UK are saving money on a regular basis, according to a recent study.
GE Money reports that many people have adjusted their financial habits in recent months as a result of the credit crunch and 44 per cent are now saving on a monthly basis.
Saving for children is among the most common reasons for setting money aside regularly but the motivations and the amounts being saved vary a great deal among the population.
And while saving for children is a priority for many thousands of parents, the worsening state of the British economy means millions of consumers are struggling simply to make ends meet, GE Money reports.
A spokesperson for the company said: "As we approach summer we are urging people to take an active interest in sorting out their finances."
Earlier this week, Sainsbury's Bank revealed its view that more and more British parents are likely to borrow money in order to cover the costs of their children's school fees.
