Sep 12 2007
The majority of British adults are convinced that they do not earn enough cash to set some money aside for their own or their child's financial future, according to recent research.
A survey by Birmingham Midshires found that almost a third of UK consumers felt they could only save if they earned at least £2,000 per month and one in ten of those polled felt only an annual salary of £36,000 would be enough to start saving.
The research also discovered that three-quarters of divorcees around the country feel that they do not earn enough money to contribute to a savings vehicle.
"With interest rates at an all-time high, there has never been a more opportune moment for people to set aside their money in a lucrative savings account," said Jason Robinson, Birmingham Midshires' director of savings.
"By putting aside a little and often, it will not be long before savers reap the benefits of adopting good savings habits."
Earlier this month, Matthew Carter from the Nationwide building society hailed child trust funds as a "great, tax-efficient savings vehicle".
