Savers are still dealing with debts first

While interest rates remain low, people are continuing to pay off their debts rather than add to their savings, according to the Markit UK Household Finance Index.

The research found that fears over tougher times ahead meant households were trying to reduce their debts and in fact, lower levels of debt had been recorded for the eighth month in a row.  Those working in the public sector reported the greatest degree of pessimism, perhaps due to the government cuts which are to be announced.

The only group to record higher savings were those earning more than £57,571 a year.

Read the whole article here



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