Public is saving now for recovery

Article

15 April, 2009

The credit crunch has turned the Savings and Investment world on it's head.

A reported third more people are putting money aside for a deposit on a house than a year ago.

With fewer Mortgage products available people are having to save for a house deposit because the 100% mortgage is no longer available.

The Financial headlines of late have only served to confuse people. it is therefore more important than ever to seek out impartial and Independent advice.

One positive thing to come out of the financial uncertainty may be a renewed understanding of the importance of saving money in advance of making big purchases like a house. The need for people to prepare for their financial future is increasingly important.

Recent surveys have revealed a shift in Briton's savings priorities over the past year.People are increasingly saving for major purchases rather than funding them with credit. There appears to be an increased awareness of the need to prepare for the financial future. The continued downward pressure on interest rates, and thus the returns on cash from deposit, is also making people think twice about where they invest their money.

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