Households are pulling money out of their savings accounts at the fastest rate in modern record, according to Bank of England figures. In the past year, families have withdrawn -23bn from their long-term savings accounts to convert into cash and put into current accounts - the equivalent of around -900 for every household in the country. It is the most dramatic evidence yet that Britons are paying for the rising cost of living by raiding thei ...

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Households are pulling money out of their savings accounts at the fastest rate in modern record, according to Bank of England figures. In the past year, families have withdrawn -23bn from their long-term savings accounts to convert into cash and put into current accounts - the equivalent of around -900 for every household in the country. It is the most dramatic evidence yet that Britons are paying for the rising cost of living by raiding their savings accounts.

Authors Website: http://sheilastuff.blogspot.com

Authors Bio:

Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.