Savings with building societies are currently at a "very high level", according to the Building Societies Association (BSA).
The organisation reports that a number of factors have added to this trend, one of which it identified as the Northern Rock crisis.
Neil Johnson, PR and policy manager for the BSA, explained that savers with the bank have continued to withdraw their money and look for places they think it will be safer.
Grandparents are spending an average of £75 a month on their grandchildren, claims a new report.
Birmingham Midshires reveals that parents are saving a total of £900 a year on the cost of bringing up a child with entertainment, meals and presents from grandparents.
Some grandparents claim they could care for a child with £65 a month, £4.80 less than their weekly pension.
British parents are spending £29 billion a year in pocket money for their children, reveals new research.
The average child was found to receive £12.22 per week. Yorkshire and Humberside were found to be the most generous, giving £16.33 a week and children in the West Midlands received the least - £10.33.
Nearly 90 per cent of children have to work to earn their allowance citing tidying their bedroom and washing dishes as the most common chores
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