Southampton households are Britain's worst savers (From Daily Echo)
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Southampton households are Britain's worst savers
10:34am Tuesday 30th October 2012 in News
Southampton households among Britain's worst savers
SOUTHAMPTON households are the worst savers in Britain, new research claims.
The study by finance website RateSetter found the city's citizens were less likely to hold a savings account than other towns and cities polled as part of the research.
And some 90 per cent of those saving with a bank in the city did not know what inflation or interest rate was - or how it would affect their balance.
Personal finance expert Andrew Hagger said: “With savings rates currently falling like a stone and inflation taking a chunk out of what little income that's generated, it's important that consumers make time to find out the interest rate they are getting on their nest egg.
“Many people will be shocked when they realise how low their interest rate has fallen and it should act as a wake-up call to investigate higher paying alternative savings options.”
Comments(8)
Inform Al
says...
12:41pm Tue 30 Oct 12
George4th wrote:Weird, it was the last Tory lot that sold off Swaythling's youth centre and the Flower Roads community centre towards the cost of the Sea City white elephant. And funny how you think it's wrong for the Labour lot to save money via Oaklands pool demise, originally planned by the Tories.
Oh! dear! Doesn't look good for the citizens of Southampton. But hey, when you have had the Spend! Spend! Spend! Labour councils in Southampton who never saved or invested a penny, how could it be any other way?!
Vonnie
says...
1:29pm Tue 30 Oct 12
We are forever hearing about the affluent South and the poverty of the North.
It is about time that the powers-that-be changed their tune and realized that the gap between the haves and have nots is far wider in the South than it is anywhere else, and getting wider.
aldermoorboy
says...
1:57pm Tue 30 Oct 12
We were poor when I was young but we always paid our way and saved and were never in debt.
Kids at school should be taught to budget, so should Labour and the Union leaders.
George4th
says...
3:43pm Tue 30 Oct 12
Vonnie wrote:If you have Labour councils arm in arm with the Unions you can drive business away, as happened in Southampton. That makes the City poorer.
You can only save if you have enough money to live on in the first place.
We are forever hearing about the affluent South and the poverty of the North.
It is about time that the powers-that-be changed their tune and realized that the gap between the haves and have nots is far wider in the South than it is anywhere else, and getting wider.
>
With regard to saving, I agree with Aldermoor boy.
kingnotail
says...
3:53pm Tue 30 Oct 12
kingnotail
says...
3:56pm Tue 30 Oct 12
Vonnie wrote:Very true. The north-south divide doesn't exist - the real divide is between London, the Home Counties and the South East, and the rest of the country.
You can only save if you have enough money to live on in the first place.
We are forever hearing about the affluent South and the poverty of the North.
It is about time that the powers-that-be changed their tune and realized that the gap between the haves and have nots is far wider in the South than it is anywhere else, and getting wider.
skin2000
says...
7:01pm Tue 30 Oct 12
George4th says...
11:09am Tue 30 Oct 12