Dec 14 2007
Close to nine in ten of all adults who contribute to a savings vehicle in the UK have continued doing so despite the recent turmoil in global financial markets, new research has suggested.
Figures from Birmingham Midshires show that only one in ten Britons have stopped saving in recent months and the majority of these people did so because of a short-term affordability issue.
In addition, around 11 per cent of adults around the country have opened a new savings account over the course of the past three months and in many cases this step was taken by parents looking to give their children a solid start to their financial lives.
Jason Robinson, director of savings operations at Birmingham Midshires, said: "It is encouraging to see that recent market conditions have not dampened Brits' enthusiasm for saving.
"Clearly the majority of people are keen to maintain their good habits and save as regularly as they can."
Another recent study by Birmingham Midshires found that grandparents contribute an average of around £900 to the upbringing of their son's or daughter's children in the UK.
