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Do you save money each month?

Do you save money each month?

At Teachers Assurance we wanted to find out about people’s attitudes towards savings, so we conducted a survey earlier in the year.

Our survey, which was carried out in conjunction with research specialist Opinion Matters, questioned more than 2,000 UK adults to determine whether people are saving for their futures and how they’re doing so.

Whether it’s to go towards a dream holiday, your child’s future or an emergency fund, having some money set aside can make life a lot easier.

With that in mind, we thought we’d bring a series of five sponsored posts to the Teacher’s Pet Blog so you can see how other people are saving and compare your own savings habits.

What we found from our research

Encouragingly, of the 2,043 UK adults we asked, the majority of respondents said they had some savings, with 48.6% saving between £1 and £200 each month. Even more encouragingly, 17% of the people asked save more than £200 each month. But in contrast to that, a worrying 34% said they’re currently saving nothing at all.

How you could save more

Saving a little and often can really make a difference, without making too much of a dent in your everyday expenses. Just £1 a day adds up to £365 a year – which could help to cover the cost of emergency car repairs or go towards the deposit for a new home.

When asked whether they would save the £5 they had left in their wallet, 75% of people we surveyed said yes. To give you a better idea of how you’re spending your money, you could try drawing up a budget and putting away any cash you have left over, rather than spending for the sake of it. The key to successful saving is to think about where your money is going.

If you’d like more information about Teachers Assurance, please visit https://www.teachersassurance.co.uk or call us on 0800 056 0563.

Author: Teachers Assurance

Understanding our customers’ financial needs is our business. When life is too busy and stressful to look beyond the here and now, Teachers Assurance helps customers to think ahead to what they could make from their money. It is our aim to help our customers think ahead, make plans and start saving regularly now for a brighter financial future.

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  1. August 27, 2014 at 18:30:49
    pingback: What are you saving for? - […] week, we brought the first of five sponsored posts to the Teacher’s Pet blog. Each of these posts is based on a different part of our savings survey, conducted earlier this […]