Released on: August 26, 2009, 8:33 am
Author: National Savings and Investments
Industry: Financial

NS&I has revealed new research that shows nearly two-thirds (63%) of the population are more aware of their finances and are making an increased effort to look after their accounts as a result of the credit crunch,

According to the new research released by NS&I (National Savings and Investments), almost half (48%) of the people who are focusing more attention on their finances have stated now that they know exactly how much money they have in all of their accounts. A further third (33%) know roughly how much money they have in their bank account and savings account, give or take £50.

Whether people know exactly what their financial situation is seems to be affected by both age and gender. Research shows that older age groups are more likely to be sure of their financial state of affairs, with 60% of over 65-year-olds sure of the exact amounts in their current and savings accounts, compared to 38% of the 16-24 age group and 41% of 25–34 year-olds. Women are more likely to know their precise financial circumstances, with half (50%) sure of exact amounts compared to more than two fifths (41%) of men.

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