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More savers in the north and spenders in the south

April 2, 2008 by admin  
Filed under News, News-Banking

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More consumers in the south were in the mood to spend than those in the north, reveals the findings from a new financial study.

Research from Legal & General showed that 31 per cent of Londoners quizzed were up for spending their money compared with only 21 per cent of those in the north.

However, 70 per cent of northerners were concerned about putting money away to save with while this appealed to just 57 of London-based respondents.

Julia Clayworth, Legal & General’s Wealth Management head of marketing, said: “Whilst the overall spending and savings patterns havent changed dramatically this month, what we have noticed is a growing regional difference in spending and savings habits.”

Meanwhile, when questioned about their ability to meet monthly bills, nearly one in five people from the north claimed to be spending more on paying bills and debts than they earned.

Recent research from Legal & General showed that in January, there was a split in spending habits between those in their 20s and those over-45.

The older generation were in less of a mood to spend than their younger counterparts.

Tags: regional difference, law, research, respondents, Julia Clayworth, london, consumers, quizzed

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