Most Britons are not saving for Christmas

| December 13, 2011 | 0 Comments

The Co-operative Bank has commissioned research which reveals that less than half (42%) of Britons saved for Christmas this year.

The survey reveals average savings of £423, with men saving £460 for Christmas and women £400, on average.

Regionally, the foremost saving areas were London, Northern Ireland and the North East, and those saving least were in the South East, Yorkshire and Wales.

There was also a distinct split between a substantial minority of very early savers (30% stating they began in January) and later savers (40% beginning to save after August).

Head of Savings at The Co-operative Bank Zack Hocking said that whilst Christmas was one of the most expensive times of the year it was difficult, in the current economic climate, for people to put money aside habitually.

Last year Nationwide Building Society also found fewer people than might be expected were saving in December, with a quarter not saving anything and less than half saving regularly.

Tags: Christmas, Co-operative Bank, saving

Category: Banking News, Co-Operative Bank News, Savings & Investment News

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