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

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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