Money

Scots more likely to save for holiday than a home



Savers in Scotland are more likely to be saving to get away than other savers across the UK, according to the Royal Bank of Scotland’s new Savings Index.

One in four Scots set a goal of saving towards a holiday, making it the most popular goal in Scotland.

The opposite is true in London, where people are least likely to be saving for a holiday, with only one in six looking to get away. The top goal across the South of England is saving for a home.

Across the UK overall, one in five are putting money aside for a holiday with an average goal of £2,700 over an eight month time period.

The top UK goal is saving towards a home. Nearly one in four people set a target to save almost £1,000 a month as the average target £13,100 over 15 months.

Allan Hardie, RBS Head of Savings, said: “Our Savings Goal tool is proving extremely popular. It’s designed to help customers save more and achieve their goals. Simply setting a goal helps to develop a savings habit and leads to customers saving twice as much as those without a goal.”



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