AA: Brits keep schtum about savings

17 November 2005
Britain is a nation of secret savers, according to a survey by AA Savings.

Almost two-thirds of Brits admitted they did not tell their loved ones what they were saving for, while one in 12 kept their partner and family "completely in the dark" over their financial affairs.

Scots were found to be the most likely Brits to save up to buy a special gift for their partner. One in five said they save up secretly and half admitted they do so to buy a romantic gift for someone they love.

"This is an encouraging sign," says Lloyd East, general manager of AA personal finance.

"While growing personal debt is a worry, this survey perhaps shows that people are saving to meet the cost of expensive purchases - even if they are doing it secretly!" he added.

A recent survey revealed Brits are harming their ability to save by working longer hours.

The Co-operative Insurance Society (CIS) found longer hours and shorter lunch breaks made it more difficult for Brits to keep track of their savings because they were so busy.

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