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Latest News

Northerners are champs when it comes to saving for a rainy day

by Personnel Today 25 Aug 2004
by Personnel Today 25 Aug 2004

People
in the north of England
are saving more than those in the south despite being on lower incomes,
according to research.

Northerners
saved an average of £84 a month during the three months to the end of June,
compared with the £66 southerners set aside, according to Birmingham Midshires bank.

This
was despite people in the north earning an average of £1,828 a month before
tax, more than £500 less than the £2,382 earnings of southerners.

Tim
Hague, head of savings and investments marketing at Birmingham Midshires, said: "A savings
culture is more apparent in the north than the south. This is part of a
financial renaissance that seems to be spreading across northern England.

"It’s
clear that northerners are becoming increasingly financially savvy, realising
the benefits of putting aside money for a rainy day."

Across
the whole of the UK
people managed to save an average of £254 during the quarter, but almost half
of those questioned admitted they had saved nothing at all during the period.

By Mike Berry

 

 

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Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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