Brits are saving saviours
As many as 22 per cent of Brits are savings saviours, using the money they have stashed away to help others in times of financial need.Research from Abbey Savings found that ten per cent of those polled had broken into their savings to help a friend or family member with debt problems, while another two per cent had used their nest egg to help someone else to get on the housing ladder and one per cent had out the money towards a loved one's wedding. Reza Attar-Zadeh, Abbey's head of savings said: "Its heartening to see that so many saver saviours have gallantly used their rainy day fund to help loved ones out of a hole. "However, this only serves to highlight the need for people to have their own savings rather than relying on others. Having savings in place really can cushion a fall in times of need."Almost half (49 per cent) of those polled had used their savings to solve their own financial crises, from getting them through a period of unemployment to paying for urgent healthcare.
Share this..
Related stories
Gordon Brown takes a pounding at the European Parliament
An attack by Conservative MEP Dan Hannan has exploded onto YouTube and become one of the most watched videos of recent times. So what exactly did the Conservative MEP do to attract such attention on YouTube and who was his victim?
As you might guess from the headline, Gordon Brown was on the end of a vicious tongue lashing from the Conservative MEP as he was forced to sit through an...
Lord Mandelson causes controversy again
When Gordon Brown brought Lord Mandelson back to the Cabinet many people suggested he was either crazy or touched by genius. Initially it seemed that the move went down very well but today we saw Lord Mandelson commenting upon the euro and the fact that, despite opposition from UK voters, inevitably the pound will disappear in favour of the single European currency. This has caused significant con...
Read MoreBrits urged to carry out financial detox
Britons wishing to avoid becoming "financially overweight" should conduct a financial detox of their outgoings, a UK lender has advised. According to a study conducted by Lloyds TSB, 46 per cent of Britons are financially overweight - a condition the bank says applies when their debt is much greater than their savings. Meanwhile, 12 per cent are deemed to be financially obese, a category that mean...
Read MoreWhen will UK taxes start to fall?
As we see an increase in both direct and indirect taxes across the UK a number of consumers are starting to ask when we could see UK tax rates fall back. The problem is that with the UK budget deficit set to hit nearly £700 billion over the next four years there is a growing black hole for taxpayers to fill in due course. Recent forecast suggests upwards of £2000 per taxpayer in UK would be requ...
Read MoreAnother day another property report
As the future direction of the UK property market comes under ever closer scrutiny they were reports disclosed this week which indicated a potential rise in property prices by the end of 2009 and a 25% fall in like-for-like mortgage approvals in March. These figures would appear to indicate significantly different outcomes in the short to medium term but many investors still continue to cling on t...
Read More