Press Release Summary: Economic troubles are threatening to affect many consumer savings, revealed Nationwide conducted survey.
Press Release Body: London (Longdog Finance) August 22, 2008: A survey unconcealed that most of the British people are finding it extremely hard to save money to secure their future. The survey showed a considerable difference from what it was last time. The survey has also revealed that due to economic difficulties like \'credit crunch\' have forced the people to change their outlook towards the concept of loans.
Rise in the costs of fuel, food and energy are also proving to be too heavy for the normal people\'s wallets to handle. Availing loans may still be a better option as it will give the much needed cushion to the people to cover for their daily expenses. The left-over amount of loan could well be channelised into a more terrific investment option.
Lee Raybould, head of savings at Nationwide, pointed out, saying, "Consumers seem to be feeling the effect of the current economic situation, as over a third think they are unable to save as much as they need to. Equally, with around half of people saving regularly, consumers may find if situations get tougher, they won't have any savings to help them through harder times. It's also worrying that a fifth of consumers - potentially 12 million people - never save. We are working hard to engage people about the importance of saving and look towards the government to communicate to consumers about their schemes such as the child trust fund."
The whole essence of the survey ultimately revealed that taking a loan at a cheap rate of interest might still be a better option for all those who are looking to survive this tempest of economic shortcomings specially at the time when future is looking bleak for the people of Britain.
For those who are facing difficulties in raising deposit for property in adverse market conditions, availing loan at cheap rate of interest may be a good option.
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