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Savings Decline from Spring - Summer 2014

15th October 2014

According to NS&I (National Savings and Investments), the average amount that people in the UK saved each month fell between spring and summer 2014. When looking at the figures, both as a percentage of monthly income and in terms of overall value, the amount that individuals in the UK saved fell last quarter.

The survey of saving habits in the UK conducted by NS&I reveals that people saved an average of 7.6% of their monthly income in the summer months (June, July and August). This is a reduction on the spring quarter where an average of 8.21% was saved.

A number of other interesting statistics from the survey include:
- Men saved almost £38 per month more than women
- Over 65s saved more than any other age group -£128.33 per month
- A quarter of those those aged 35-44 and 16% of people in the UK have no savings at all.

Julian Hynd at NS&I offers the following advice: "regularly review how much you can put aside in savings. It's also important to review now the personal impact that interest rate rises may have in the future."

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