Britons ‘focusing more on savings’

The majority of Britons claim they have become more financially aware as a result of the recession, a new poll has revealed.

Approximately 63 per cent of respondents to a survey by NS&I and TNS stated that they are putting in a concerted effort to manage their accounts, with 48 per cent of this demographic now aware of exactly how much money they have in their savings.

Women are more likely to know precise amounts at 50 per cent, compared to 41 per cent of men.

Meanwhile, the over-65s group was found to be the most financially aware, with 60 per cent knowing their exact situation.

NS&I senior savings strategist Dax Harkins suggested that those who do not pay attention to the state of their savings could be making a big mistake.

“To be in control of your finances it’s really important to keep track of your money and to make sure that it is invested in a savings account which suits your individual needs,” he remarked.

At the end of June, NS&I revealed that the number of people saving during spring 2009 was the highest recorded in the history of its Quarterly Savings Survey.

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