FOR families in Britain, holidays remain the last luxury they are willing to sacrifice. As a result, a whopping 36 per cent of people put money aside for holidays.
With the British populace set to learn the exact economic measures being planned by the new coalition government headed by David Cameron to fight the nation’s huge debt next week, research by the Post Office has revealed saving is a way of life for more and more families.
The ‘Alternative Census’ of 10,000 UK residents reveals that perhaps in view of the difficult economic climate, 84 per cent of people now adopt a more austere approach to their finances and save
for the future.
Eighteen per cent of those surveyed said that saving for the future is their biggest financial priority, while 43 per cent admitted to ‘trying to save even a small amount each month’ as they feel this is better than nothing.
The biggest savers are the younger generations, with 20 per cent of 16-34 year-olds claiming putting some money aside is their priority, compared to 10 per cent of those aged 35-79.
With the British renowned for the saying that their home is their castle, 19 per cent in the survey are saving for a deposit on a property while 15 per cent are putting money aside for home improvements.
And the British, it appears, turn their attentions towards Christmas as early as July with 12 per cent admitting saving as early as in the summer months.