Independent financial guru Alvin Hall has launched the 'Helping Britain to Save' campaign, encouraging more people to get into a saving habit and offering advice on how to keep it up even when finances are being stretched.
The campaign coincides with the release of the 'Financial Face of Britain' report which reveals how much the nation are saving, their spending habits and level of debt.
The in-depth study found a distinct change in financial behaviour, marking th
e end of the 'buy now, pay later' culture.
The report reveals a third of people have changed their spending habits in the last six months and spent less to cope with the credit crunch.
Almost one in three (32%) have increased the amount they pay off each month, with a fifth (19%) focusing on paying off more of their debt which is on higher interest rates, such as store cards.
Worryingly, despite more testing economic times ahead, two in five (37%) are saving less and one in five have less than £500 in savings leaving them potentially vulnerable to financial difficulty. Over four million say they are yet to get on the savings ladder and more than one in three do not save on a regular basis, with over half (57%) citing a lack of spare cash.
Alvin Hall will be visiting Lloyds TSB branches in Newport, Birmingham, Newcastle and Glasgow, offering people guidance on how to make the most of their money in the current economic climate.
• To find out when visit
www.lloydstsb.com/savvysaver •
If you are one of over 4 million people yet to get on the saving ladder then watch Alvin's advice hereThe full article contains 288 words and appears in The Scotsman newspaper.
