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While the Bank of England has faced the dilemma of how much funding assistance to give to the UK markets without allowing backs to benefit directly, this situation is now being replicated in Europe...
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Wednesday 12th September 2007
Half of Brits say they need to earn a bigger salary to be able to afford to save, according to research conducted by Birmingham Midshires
The building society found that £21,888 is the salary needed to able to afford to save, and those questioned said they would need to earn an average monthly salary of £1,824 to be able to find extra cash to put aside.
However, a third of those polled reckoned that £2,000 was the minimum they would have to earn every month to be able to put something away for the future.
Jason Robinson, director of savings operations at Birmingham Midshires, commented on the findings: "The big concern is that savings seem to be viewed by many as an unaffordable luxury.
"With interest rates at an all-time high, there has never been a more opportune moment for people to set aside their money in a lucrative savings account.
"By putting aside a little and often, it will not be long before savers reap the benefits of adopting good savings habits."
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