You are here: Home - Investing -

Teachers are the best savers

Written by:
Those working in education seem to be better at putting more money aside then even those who work in finance.

New research by the Co-operative Bank has shown that out of 25 professions surveyed, teachers save the most money each year.

Those working in education save on average £2,125 each year, higher than those working in finance (£1,999) and over four times the amount saved by those in artistic and sport related jobs (£494).

The research also highlights which professions have had to significantly adjust their lifestyles due to the current economic pressures, with those working in entertainment (86%) and design (83%) taking the biggest hit.

Zack Hocking, head of savings at the Co-operative Bank says: “Keeping a small portion of your wages aside each month can help to reduce the effect these difficult financial times are having. By keeping track of your outgoings you may be able to make a few minor cutbacks which can add up to a surprisingly large saving.

“With the new tax year just starting it’s the ideal time to get into the habit of saving a little into an Isa or savings account as and when you can afford to.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
13% of parents or grandparents planning to open a junior Isa

Figures reveal the nation's children stand to benefit from a potential Junior Isa nest egg of £3.7 billion, with each...