Brits hoping to save harder in 2009

Posted: 05 Feb 2009 08:37:22 GMT

Affected by the ongoing recession, Brits in 2009 are hoping to save as much as 35 per cent more than they saved last year, online bank smile.co.uk has found.

Throughout last year the typical Brit managed to put £1,882 away for a rainy day but plans this year to increase that figure to £2,605.

With a renewed focus on saving, many homeowners hoping to sell their property may find that the number of buyers in the market remains low this year, as caution grips first-time buyers and homeowners alike.

Speaking about the figures John Barker, head of savings at smile.co.uk, said: "With the uncertainty in the current economic climate, the findings show that many people are now changing their behaviour and reverting to the ways of previous generations, when saving up for things was the norm.

"When looking for a place to put their savings, people should consider maximising their tax efficient savings."

Homeowners forced to sell their home despite the unfavourable market, however, may find that selling their property online attracts more house hunters than a typical estate agent window.

Buyers may also be more willing to purchase a house online as, without an expensive estate agent acting as middle man, the process of buying a house can be made significantly cheaper.


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