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Savings at a five-year high

10/07/2009

A new survey from National Savings & Investments (NS&I) has shown the highest levels of saving amongst UK consumers for the five years the Quarterly Savings Survey has been running.

In its spring survey, carried out between March and May, the Government-owned bank claimed that savers were putting aside an average of £92.41 a month, up from £90.12 in the winter.

However, the number of people saving regularly remained constant for the fifth consecutive quarter, at around 47% of the population.

A spokesperson for Debt Advisers Direct said: "Savings are an important part of our finances, particularly in a difficult time for the economy in which the risk of debt problems is higher.

"However, there are many people who simply can`t afford to save because of existing debts - and anyone in that situation could benefit from speaking to a professional debt adviser."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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