Brits saving to fund DIY home improvements

Brits saving to fund DIY home improvementsA growing number of people are putting money aside to fund DIY projects and improvements in their homes.

According to a new survey by Legal & General, six out of ten adults are currently saving rather than spending.

Decorating was named as the second most common reason for saving, after paying household bills.

Indeed, some 45 per cent of savers said they were setting aside funds to pay for new wallpaper, furniture or bigger renovations.

By contrast, just 42 per cent were saving with the intention of improving their homes in February.

However, it is not just savers that are looking to make changes to their interiors.

According to research carried out last month by Sainsbury's Finance, one in five people taking out personal loans planned to spend the money on refurbishment.

The average value of a loan handed out by the company for home improvement increased from £8,237 to £9,225 in the first six months of the year.

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