Brits save to dodge debt problems

09/02/2010

More people are saving now than at any point in the last 16 months, a new survey has found.

Nationwide's monthly Savings Index found that the number of regular and occasional savers hit 79 per cent in January.

It seems that many consumers are preparing for tougher times ahead, and saving to avoid debt problems'>debt problems.

Debt management firm EuroDebt point out that loss of income and changes in financial circumstances are very common reasons for entering debt solutions such as a Debt Management Plan'>Debt Management Plan (DMP).

However, despite analysts expecting unemployment to continue to rise in the coming year, one fifth are still failing to save anything at all, according to the study.

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