One in three Brits feel ‘rainy day fund’ is outdated – and prefer saving for fun instead [Video]

A third of Brits now believe the concept of a ‘rainy day fund’ is outdated, preferring to save for specific things they can look forward to.

The survey of 2,000 adults highlighted that 34 per cent have a plan in place on how to use their savings on a significant purchase, adopting a ‘you can’t take it with you’ mentality.

A strong 42 per cent feel they work hard for their money and enjoy using it on something they truly desire, in addition, with 67 per cent finding it rewarding to spend what they’ve saved.

As a result, 11 per cent are planning to use their ‘sunny day’ money on memorable experiences such as festivals, concerts or spa day.

Sean Morley, head of savings at Post Office which commissioned the study, commented: “Attitudes to savings are changing, with more people placing emphasis on saving for the good times rather than …