You are here: Home - Saving & Banking - News -

Silver savers

0
Written by:
07/08/2006

People over 50 are setting a good example to younger generations by leading the charge in saving according to latest research out today from savings provider Birmingham Midshires.

On average, the over-50s saved £550 between April and June, a 33 per cent increase on the £413 they saved over the first three months of the year. Twenty-somethings could take heed from their parents, with savings dropping 13 per cent between April and June (£227 compared to £295 between January and March). Those in the 30 to 50 age group remained fairly stable with a slight dip of three per cent, from £679 to £658.

Jason Robinson, director of savings operations for Birmingham Midshires commented on the findings: “It is reassuring to see that those in midlife are saving toward their future. With recent scares on the pension crisis, it is important that the over 50s lead the way in saving for retirement. We’d advise all savers to follow this great example and consistently put money aside so that they can enjoy the fruits of their labour later in life.”

Tagged:

Tag Box

Debt

Pension

Spending

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:
Beach bags up for grabs

One in four Brits (26%) happily leave their personal belongings unattended while they go for a swim or pick up...

Close