West Lothian savings poorest
Published Date:
28 June 2008
PEOPLE in West Lothian are the poorest savers in Britain, new figures have revealed.
The survey by the Halifax found that residents had an average nest egg of only £3897, well below the Scottish average of £5443.
The Office of National Statistics said yesterday that families were saving at the lowest rate in almost half a century, as the credit crunch hits incomes.
The Halifax survey found that Scots were among the worst at saving in Britain, putting back less than one-quarter of average earnings.
West Lothian was bottom of the table, saving only 17 per cent of average earnings in the area. Glasgow was second worst, while Shetlanders had the highest average balance.
Midlothian was seventh lowest in Scotland, with average savings of £4727.
The research also found that the amount people save rises significantly with age, with those between 65 and 74 having an average of £15,276, compared to £1385 for 18 to 24-year-olds.
Women save on average 3 per cent more than men.
The full article contains 174 words and appears in Edinburgh Evening News newspaper.
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Last Updated:
28 June 2008 1:49 PM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
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Related Topics:
West Lothian
