Britons pay a high price to make use of savings |
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Published
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Thu, 17 Mar 2005 01:00
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National Savings & Investments found in a survey that access to savings in the UK was quite an issue, two out of three people struggle to get to their savings in case of an emergency.
Restricted hours, long queues and limited bank branches proved impediments for about 45% of the hassled saving seekers.
| One in five Britons was found to be fed up of the bureaucratic linkages to their savings, 21 percent of savers were tired of waiting for their money and another 21 per cent were unable to contact their saving providers for hours.
It was further revealed that Britons between ages 25-34 were the most frequent ones to rush to their saving accounts and about 28 per cent of these were found to invade even their piggy banks in times of need.
Consequently, John Prout, National Savings & Investments sales director suggested people to save a lump sum amount, like about 3months’ of their salary in an emergency fund to be able to confront any unanticipated circumstance at ease.
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