According to a Natwest Bank survey the people of Manchester are the biggest spenders in the UK, with the typical household spending GBP26,000 each year.
This spending figure is a full GBP2,000 more than the capital city, London, which will come as a big surprise to many. What may come as an even bigger surprise is that Manchester is also a great city for saving according to the Natwest Bank survey, with a higher than the national average 53 percent of Manchester residents putting money aside.
A spokesman from the Natwest Bank was pleased to see Manchester setting such a good example with their levels of savings, especially considering their spending habits. They should be seen as a shining example to others said the spokesman.
Over 5,000 copies of the Nationwide Building Society Teenagers Guide To Money have been distributed to schools and colleges across the country.
The reason the guide was produced is that just under 70 percent of teenagers in a Nationwide Building Society survey stated that they did not really understand much about finance. With this in mind the Nationwide want to equip young people with a better knowledge and understanding of finance so they can make better choices when selecting a bank account and have to manage their own money.
A Nationwide Building Society spokeswoman said that the teenagers guide would help those people leaving school and equip them with a knowledge that will stand them in good stead for the future.
Abbey National owner Santander has reported profits for the first six months of the year up by 6 percent compared with the same time last year.
If a one off figure was removed from the figures then the actual profit generated by Santander, best known in the UK as the owner of the Abbey National, would have been a much higher 22 percent. This figure is also higher than analysts had predicted, although shares still traded down slightly on the day.
Santander are very much a global business, with connections to most parts of the world. This enables them to find many more opportunities to create profitable business since they are not tied to just one market. However even the Abbey National delivered good results for them, something that could not always have been expected with the economic situation currently facing UK businesses.
