Teachers ‘are the UK’s best savers’

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end of term teacher gift

end of term teacher giftThose of us who aren't teachers sometimes get a little bit envious of their long holidays, and according to new research educators now also save the most money every year.

Teachers have proved they are the savviest savers, as a survey by the Co-operative Bank found that they typically set aside £2,125 a year.

Surprisingly, this figure is slightly higher than that recorded among staff who work in finance jobs - they save £1,999 on average.

The study also discovered that 86% of those with jobs in the entertainment industry and 83% who work in design have taken the biggest hit as a result of the tough economic climate.

The survey revealed that people in these professions were forced to adjust their lifestyles in order to cope with the financial changes.

"Keeping a small portion of your wages aside each month can help to reduce the effect these difficult financial times are having. By keeping track of your outgoings you may be able to make a few minor cutbacks which can add up to a surprisingly large saving," said Zack Hocking, head of savings at the Co-operative Bank.

"With the new tax year just starting it's the ideal time to get into the habit of saving a little into an ISA or savings account as and when you can afford to."

Check out this guide to find out how you might be able to catch the saving bug.

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