Brits 'spending not saving this summer'
People in the UK may be spending rather than saving this summer, according to a new poll.
Savings accounts in the UK may be set to become less popular, according to a new survey, which suggested that Brits are more likely to spend any savings they make rather than stash them away during the warmer months.The poll, conducted by National Savings and Investments (NS&I), showed that 42 per cent of Brits believe they save by spending less on heating bills and groceries during the summer months.
However, nearly half (48 per cent) of Brits believe they spend more on leisure activities and having fun over the summer and so are unlikely to put their food and fuel savings into savings accounts in the UK.
Dax Harkins, NS&I's savings strategist, said: "Everyone loves to see the sunshine, but people should try not to be so dazzled that they forget their finances.
"Brits would be wise to try and make the most of these savings."
NS&I is the government-backed savings account provider, which means it can guarantee the security of savers deposits as it has treasury funds behind it.
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