Britons saving for a rainy day
More borrowers of mortgages for professionals are thinking about saving for a rainy day, research has suggested.
Hetal Parmar, savings manager at Alliance & Leicester, commented on studies by the mortgage lender which have indicated that around one in two Britons regret that they are not giving enough thought to their finances.
It comes as graduates are facing rising levels of student debt and other wealthy professionals, such as solicitors and engineers, might be looking to put aside some of their earnings during the current economic crisis.
Mr Parmar advised people to save about three months worth of income into a specific rainy day vehicle.
This would protect them if, for example, their car breaks down or the home's roof needs repairing, he noted.
"At least [then] you have got something there to fall back on. I think more and more people are starting to think that way," Mr Parmar said.
Some 68 per cent of people do not feel they have reached the point where they can stop saving, according to Alliance & Leicester's Savings Outlook Report.
Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.
Hetal Parmar, savings manager at Alliance & Leicester, commented on studies by the mortgage lender which have indicated that around one in two Britons regret that they are not giving enough thought to their finances.
It comes as graduates are facing rising levels of student debt and other wealthy professionals, such as solicitors and engineers, might be looking to put aside some of their earnings during the current economic crisis.
Mr Parmar advised people to save about three months worth of income into a specific rainy day vehicle.
This would protect them if, for example, their car breaks down or the home's roof needs repairing, he noted.
"At least [then] you have got something there to fall back on. I think more and more people are starting to think that way," Mr Parmar said.
Some 68 per cent of people do not feel they have reached the point where they can stop saving, according to Alliance & Leicester's Savings Outlook Report.
Mortgages for professionals provides expert mortgage advice and is committed to represent the borrower not the lender on over 30,000 mortgage products for high earning clients.
