A new survey on savings and investments reveals that 69% of respondents said they were regular savers.
The survey, conducted by EBS Building Society and Millward Brown IMS, also showed that the most important factor influencing where people save is access to their money followed by convenient location. Interest rate was named as the third priority.
On the investment side, the survey shows that 58% of investors received advice in understanding the investment market and process from their family, 42% from their investment provider and 36% got help from their friends.
Other 90% of respondents said that the size of the return and the security of the investment were the two most important factors when making investment decisions.
Only 33% of those surveyed claim that they are well informed on the issue of savings and 23% believe that they are well informed across the area of investments.
18% said they have made a money based investment in the last 12 months. 44% of those who made an investment stated that this was their first and 56% now consider themselves regular investors.
The survey also reveals that 16% of respondents follow the stock market and check stocks and share prices at least once a month. 27% find it easy to understand stock market information, while 61% find it difficult.
The survey is part of the EBS 'shared know-how' initiative. This initiative has seen the launch of 'Inside Track', an online consumer initiative aimed at making everyday financial information easier to understand and the 'Little Book' series which included 'A Little Book about Buying Your First Home'.
