Are You ‘Unable’ To Save?
January 7, 2009 by
It’s well-known that the credit crunch and rapidly rising costs of living are affecting spending power, as well as the ability to obtain credit – but what about the other side of the coin? According to a new report from Scottish Widows, one in three UK citizens who are in need of debt help feel they can no longer afford to put aside any savings for the future.
The survey of 6,381 people, carried out by YouGov, also showed that half were not saving enough for a comfortable life after retirement.
Why are so many people ‘unable’ to save?
The report suggests that the credit crunch is encouraging more people to save rather than spend their money. But for those on lower salaries or with bigger commitments, it can actually limit people’s ability to save. “Rising costs of living are a constant pressure on people’s finances,” says a spokesperson for debt management company Gregory Pennington, “and this means many people are left with very little once bills and other commitments have been paid.”
The rising numbers of people in debt may also have an impact. “We’re seeing increasing numbers of people struggling with debt, which automatically shifts priorities away from saving money,” he says. “A few years of easy access to credit cards, loans, et cetera, are starting to take their toll.”
But are we really unable to save?
The spokesperson for debt management company Gregory Pennington says that many people may underestimate their ability to save. “A lot of people are hesitant about saving these days, because they never know when their costs will go up and they might need the money.
“People often feel that once they’ve got their bills and other essentials out of the way, which are rising all the time, they are entitled to spend whatever’s left.
“Rising costs of living are limiting what people are able to save, but the truth is that most people are able to save at least something – and even a small amount each month is worthwhile.” There are plenty of ways to cut costs without compromising lifestyle, he continues – changing utility/telephone/broadband providers, for example – and the money saved can be put aside for the future.
“Even a few minor compromises can make all the difference,” he says. “Cycling to work instead of taking the car or bus, buying fewer CDs and DVDs, or only buying clothing when it’s needed – all of these can make a difference”.
“Life would be no fun without these things, but it doesn’t take a lot to save. Buying one less shirt a month, for example, could save you around £20 a month, which is a perfectly good amount to start out on.
“It doesn’t sound a lot at the time, but over a year that’s £240 plus interest. In a good savings account, that could really add up over the years,” he says.
“There’s a snowball effect with savings. The more you have in your account, the more you will get back in interest, so you could find your money growing faster than you think. We would recommend anyone to get saving as early as possible to give themselves the best possible start.”
If you want to go to the North of England:
IJmuiden-Newcastle, (with a bus from Amsterdam station,)
A little farther south, Europort (near Rotterdam)-Hull:
The most direct one if you want to go to London, has a direct train from Amsterdam to the ferry and from the ferry to London:
Hook of Holland-Harwich, also near Rotterdam:
The next one to the south is from Belgium, Oostende-Ramsgate: Brings you to the southern part of England, Kent, south/east of London, Oostende is about 4 hours by train from Amsterdam, hourly trains:
Father south are the ferries between France and the south coast of England.
You can also take the train from Amsterdam to Brussels, and change there for the Eurostar to London:http://plannerint.b-rail.be/bin/query.exe/nn?L=nsnl
Cross-posted from Blogband, the blog of Broadband.gov. In a month, the Federal Communications Commission will deliver a National Broadband Plan, as it was asked to do by Congress and the President in the Recovery Act. This will be a meaningful plan for U.S. global leadership in high-speed Internet to create jobs and spur economic growth; to unleash new waves of innovation and investment; and to improve education, health care, energy efficiency, public safety, and the vibrancy of our democracy. I believe this plan is vitally important to America’s future. Studies from the Brookings Institute, MIT, the World Bank, and others all tell us the same thing — that even modest increases in broadband adoption can yield hundreds of thousands of new jobs. Broadband empowers small businesses to compete and grow and will ensure that the jobs and industries of tomorrow are created in the United States. The economic benefits of broadband go hand-in-hand with social benefits and the potential for…
R.I.P keep ulster british so no mothers son dies in vain
not sure what generation your a part of, but ignorance seems to run rampant through he ages. Rand Paul doesn’t want to end government, he just wants to make it’s ability to regulate and insure a proper economy is weakened in favor of corporate interests. Every one of his policy prescriptions always favors the financially elite over social equality, public well-being, or ethical decency.
are you kidding ? of course you can.
because they have all been 2 ugly
lol
Re: “Dion’s move completely legitimate”
Dion expressed allegiance to Elizabeth the Second.
Elizabeth the Second is not Queen of the United Kingdom of Great Britain and Ireland, contrary to the requirement in this Fifth Schedule, which states:
“Oath of Allegiance
I A.B. do swear, That I will be faithful and bear true Allegiance to Her Majesty Queen Victoria.
Note. The Name of the King or Queen of the United Kingdom of Great Britain and Ireland for the Time being is to be substituted from Time to Time, with proper Terms of Reference thereto.”.
The provinces of Canada, Nova Scotia and New Brunswick expressed their desire to be federally united into one Dominion under the Crown of the “United Kingdom of Great Britain and Ireland”, not the Crown of the “United Kingdom of Great Britain and Northern Ireland”, according to the British North America Act, 1867.
Proberly for the reason, United Kingdom is very different from England as the UK holds the finest, England, Ireland and Scotland and Whales who rocks..We are really cool and pround. We have the same problem with the states of America…States?????
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Sometimes, i don’t no weather 2 have my Trending Filter on, (1) my city (London) (2) Country (United Kingdom) or (3) worldwide. #JustSaying
Acquaintances:
ousman_ouss
23 ans
London
United Kingdom
SQL Server DBA – Financial Services – Kent – United Kingdom #job