Research from NS&I (the post office to you and I) has suggested that people are saving more now than before the recession. They have found that the average Briton is now saving 6.9% of monthly income.
NS&I calculate that savings have risen to £85.21 a month as opposed to £81.94 a month (an increase of £3.27 a month).. which I calculate to be a 4% increase. They go on to say that this is despite a decline in monthly net income which has now fallen to £1,235 from £1,310.
I’m not entirely clear where NS&I obtain their data or indeed how they are calculating an average income, whether this includes children and those that are unemployed or retired etc. However the figures are calculated, the sums are merely a testament to two truths that UK plc needs to face:
1. “We” are not saving enough
2. Income levels are seriously out of line with property prices which can surely only lead to reducing property prices.
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