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Will you stop spending your money and start growing it instead?
When it comes to attitudes to money, there is probably a big difference between how you spend now and how your parents and grandparents did when they were your age. Over the decades, we’ve shifted from a culture of thrift to a culture of spend and now a culture of debt, where incomes cannot keep up with our lifestyles.
With UK household debt set to leap from £1 trillion to £1.6 trillion over the next 10 years, Skipton predicts we will see a ‘savings renaissance’, where people decide to boost their savings instead of spending on consumer goods, services and luxuries.
We may also see more people postponing their retirement to be able to save for longer, downsizing their house size and location to reduce mortgage costs or choosing not to have children in order to improve their long-term financial situation.
So will you join the savings renaissance? Putting a little money away each month is a good way to get into the savings habit and make sure you can afford the lifestyle you want. To find out more about saving, simply pop into your local branch, call us on 08457 171777.