Britain becoming a nation of savers

14 April 2005
The latest survey from personal finance website Moneyfacts suggests that Britain is on the way to becoming a nation of spenders, with high proportions of the UK population valuing their savings.

According to Moneyfacts' March survey, 83 per cent of adults are encouraging their children to save their money rather than fritter it all away.

A similar number - 84 per cent - plans to take out an ISA this year, proving that savings are not only vital for the next generation.

"These results give encouraging signs that we may be slowly becoming a nation of savers," comments Emma Butler, web editor at Moneyfacts.

The Moneymood survey released by Legal & General last week indicated that young people were also in the mood to save in March - more than three quarters of respondents aged under 35 said they intended to put money aside this spring.

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