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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
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.
Half of all Brits plan to save more money next year and 40 per cent intend to manage their finances more carefully, it has been reported.
Research by Bradford & Bingley has found that a further 38 per cent intend to spend less money and 26 per cent want to reduce their debt during 2008.
The majority of British savers have not let the unstable financial climate deter them from saving, claims Birmingham Midshires.
According to the bank's quarterly Saving Britain report, 87 per cent of savers continued to put away money over the last three months.
The future is not looking good as people find it increasingly difficult to save, according to Baronworth Investment Services.
The advisory firm claim that although the UK is not currently in crisis, if the present savings culture continues, there are "major problems" ahead.
Government research into independent savings accounts (Isas) has confirmed that they are an "increasingly popular savings vehicle", reports the Tax Incentivised Savings Association (Tisa).
A study by HM Treasury and HM Revenue & Customs found that 39 per cent of UK consumers currently hold an Isa, making it the fourth most popular form of savings.
As the cost of raising a child increases, parents should teach their children the benefit of saving, it has been suggested.
LV= claims that following media attention concerning the importance of financial education, parents could highlight the costs of raising a family to their children.
There are "massive" variations between annuity and pension plan policies, claims Informed Choices.
However, despite insurance companies being legally obliged to inform customers of the open market option, many consumers are not taking advantage of it, reports the advisory firm.
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