The Savings Gap
It is with great pleasure we can announce the release of our latest ‘Tackling the Savings Gap White Paper’. Since our last paper was published, the political climate has shifted dramatically. On the eve of our last edition, we were awaiting the result of the EU referendum with baited breath and what this would mean for the UK’s financial landscape.
We Survey the Nation
We use our quarterly poll as a barometer of the nation’s saving and spending habits, surveying 2,000 UK adults across all demographics. Asking a range of questions, we can use this sample to determine what recent events have meant for household budgets and how, or if, this has impacted saving behaviour. Since we launched this campaign in 2013, we have polled more than 20,000 people.
Following the announcement of a vote in favour of leaving the EU, in an effort to stimulate the UK economy, the Bank of England interest rate to 0.25%. This action may have left some savers considering their options as some high street banks followed suit and cut their own interest rates on cash deposits.
We asked the participants about the cut in interest rates, finding that around 40% of respondents said they would not make any changes to their savings habits following the rate cut. We also looked at the changing spending habits relating to household budgets and whether our sample have made any changes to their lifestyle in an attempt to bolster savings.
Download Your Copy
To read more on these topics and other, you can download a copy of our latest Tackling the Savings Gap paper and find out what the results had to say.
With investing, your capital is at risk. Investments can fluctuate in value and you may get back less than you invest. Past performance is not a guide to future performance. Tax rules can change at any time. This blog is not personal financial advice.