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Brits putting holidays ahead of pensions

Brits putting holidays ahead of pensions
24 Sep 2013

One in three Brits are living for the now, according to new figures, with more people currently saving for trips abroad than for their retirement. 

Lending service Zopa found that more than two-thirds (36%) are putting money aside to book a holiday, while just one in four (26%) are putting cash into a pension pot. One in five has no savings at all, the Daily Mail reports.

Holidays topped the list of the top ten saving goals, ahead of a rainy day emergency fund, retirement and having children.

Apathy towards saving is perhaps not surprising given that in February the average interest rate for cash Isas was a paltry 1.74% - well below the rate of inflation. 

Yesterday it was revealed that young travellers' spend on holidays is up 40% since 2007, despite the economic recession. 

'The truth is that when the going gets tough, the young keep on travelling,' the World Youth Student and Educational Travel Confederation's Laura Daly told the Telegraph. ADNFCR-408-ID-801641085-ADNFCR

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