Financially-focused consumers 'saving spare change'

Many UK consumers are said to be saving their spare change, with one expert suggesting that people appear to be keeping a tighter rein on their finances.

According to figures published by money.co.uk, loose coins amounting to £385 million may currently be possessed by the country's householders.

The website believes that as many as 63 per cent of households are opting to put aside their leftover change.

While saving cash could prove useful to those trying to manage credit card debt, money.co.uk's managing director Chris Morling has suggested that the current financial climate is making people more financially conscious.

He commented: "According to our figures, three times as many households are now 'watching the pennies', which explains the rise - perhaps simply because people are more careful with money in tougher times."

The importance of financial budgeting was also emphasised by money.co.uk ahead of the recent January sales.

Posted by Martin Peacock.