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Savings in the UK 'rise by 136%'
Brits have increased their savings pots by 136 per cent in the past 12 months, according to a new study.
Figures published by Birmingham Midshires revealed that people saved an average of £776 during the three months to January 2010, which was significantly higher than the figure of £329 recorded over the same period a year ago.
Two in five adults also admitted to raiding their savings during the quarter, although the average amount taken out has dropped to £1,724 from the high of £2,191 seen in July 2009.
John Bianco, head of Birmingham Midshires Savings Products, said: "It is encouraging to see that people are taking their savings seriously, putting away more and raiding less.
"In the current economic climate people have revisited their savings habits with a marked increase in people saving for a rainy day."
Earlier this month, Nationwide released the results of a survey which suggested that the majority of Brits regarded saving money as less important in December compared to previous months.