Consumers Prioritise Saving But Cash is Still Deemed King

Despite record low interest rates on savings and wages slow to rise, UK consumers are looking to the long term and diligently saving. But data reveals we are over-reliant on cash

Emma Wall 9 March, 2016 | 2:35PM

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Saving is the top priority for UK consumers – beating pension provision, mortgage payments, credit card debt and business ventures. According to the latest BlackRock Investor Pulse survey, record low interest rates and squeezed wages have not put consumers off – with the majority of participants saying they would save rather than spend an unexpected windfall of £2,500.

Unsurprisingly men, who still on average earn more than women, managed to save more in the past year at £2,359 compared to £1,795 for women.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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