Financial news categories
Financial news archive
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
Credit crunch has made people 'stop and think' about savings
21 April 2008
While the credit crunch is widely seen as having a negative effect on Britain's finances, its saving grace could be the impact it will have on savings.
Consumers may be struggling under the economic turmoil but it does make people stop and think about putting more money aside.
According to The Children's Mutual, people tend to splash out when the economy is in good shape and forget that there could be tougher times ahead.
Chief executive David White said: "When things are going great, and the stock market's going up and the value of houses are going up and your job's going well and life's great, you just keep spending.
"And what happens [during] downturns in markets is that people think: 'You know what? We should really be a little bit more careful with our money, and we should save a bit.'"
His comments follow research by the firm which shows that that the number of people who have opened a monthly direct debit at the same time as a child trust fund has increased "month on month" in January, February and March 2008.
This suggests parents are becoming more open to the idea of saving early for their children's futures. 
