Britons admit to failing on savings by Finance News Bulletin

Published: 18/01/07

Almost three quarters of Britons, or 72 per cent, speak that they are failing to save enough cash for the future, a new IFA Promotion census has shownAround eight million of those who admitted to failing to plan ahead supposed that they enjoyed spending their cash too much to put aside itIFA endorsement said that it hoped that the recent rebalancing of interest rates could flip the tendency as borrowing becomes pricier and saving more satisfying"Last week's announcement should be treated less as blanket bad news for the heavily grateful UK consumer and more as a wake up call to save more and spend less," said David Elms, IFA endorsement chief decision-making

"The interest rate rise is minimal, but has met a shock reaction, which I hope will trigger persons to finally take their heads out of the rub down and act logically when it comes to their prospect financial security"At the very least, it should deter people from needless spending and the temptation of taking on new money owing, but what we really need is a lasting commitment to saving With the prospect of greater than before rates of returns, now is an ideal time to start"IFA added that people who have determined to kick-start a economy habit should find the economys account deal before they begin to spend their money

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