UK Money News
22nd February 2008
Brits raiding savings accounts to get by
Rising energy bills and higher food prices prompted millions of Britons to raid their savings accounts during the last quarter, figures from a leading direct savings provider have suggested.
Birmingham Midshires account holders withdrew an average of £961 between November and January as they used their nest egg to cover the increasing cost of living.
This was almost three times the average savings account withdrawal during the same period last year when an average of £349 was withdrawn by the company's clients.
Rachel Thrussell, head of savings at Moneyfacts.co.uk, said: "The last year has seen many families finances stretched, with many having to dip into their savings to get by.
"However savers can now start building up their reserves again and there has never really been a better time to do so."
She added: "The battle for savers money is fierce with many institutions launching accounts paying higher than expected rates following the base rate cut."
back to February's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
