Bank challenges consumers to save

Alliance & Leicester has issued a challenge to British consumers, in the wake of research which found that 29 per cent do not have any savings.

Inspired by the forthcoming Beijing Olympics, the bank claimed that those who put away £50 each month (around £1.66 per day) could have more than £2,500 in savings by the time the games come to London in 2012.

As consumers become increasingly concerned with the rising cost of living, manager of Alliance & Leicester’s savings division Hetal Parmar said saving was an important part of ensuring security.

“Even by starting with a small ‘warm up’ amount each month, saved in a high-interest account, Brits can build up a nice sum of money without breaking much of a sweat,” he remarked.

The research, conducted by YouGov, found that 68 per cent of those who don’t save blame not having enough money once bills are paid.

Alliance & Leicester was recently acquire by Santander – the Spanish banking group that owns Abbey.

© Adfero Ltd

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