URGE TO SPLURGE Savers built up £1.7 TRILLION in savings – and are ready to splash the cash on holidays and restaurants, experts say

Bowmore Financial Planning research quoted in The Sun, 9th January 2022

Bowmore’s study shows that the value of household savings has accelerated sharply during the pandemic. The value of savings has risen by £11.5bn per month since the start of 2020, compared to just £4.6bn per month in the prior two years. UK households have saved an average of £412 per month during the pandemic.

The growth in savings has recently sped up again after starting to level off in mid-2021. UK savings grew by £21.5bn in two months in September and October, after only growing by £18.1bn in the four months from April to August.

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