With debt management difficulties mounting for consumers across the country, the building society has revealed that people from different areas look after their money in a variety of ways.
Over a quarter of all British people use a traditional piggy bank as a way of accumulating cash, according to the recent research, but those from Leeds, Plymouth and Newcastle were among the least effective savers in country.
“People take very different approaches to saving and it’s interesting to see the different trends in different parts of the country,” commented Vicki O’Connell, spokesperson for Chelsea Building Society.
“It’s about whatever works for an individual – some people prefer to put a set amount away every month and some people would rather put away a lump sum when it suits them,” she added.
Researcher from Ohio State University in the US recently established that there is no link between a person’s intelligence level and the extent of their debt management problems.