Savings on the up, bank says
People are saving more and spending less, Alliance & Leicester (A&L) suggested today.Analysis from the bank shows that many consumers are putting money aside for a "rainy day", instead of running up their credit cards and taking out personal loans.A&L research has found that 18 per cent of people are also de-risking some of their savings, moving money out of stocks and shares and into cash accounts.Meanwhile, one in four people say that they are now more likely to save than they were two years ago.Hetal Parmar, manager for savings at A&L, said: "The feeling that we get from the research we have done certainly shows that people are starting to think very seriously about spending... and there's statistics like one in two regretting not giving enough thought to their finances there is a lesson there for all of us really. "People are starting to think more about making sure they have got some money set aside for a rainy day."
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