About a third of adults who received a bonus at their workplace over the course of last year saved some, if not all, of their money, it has been revealed.

Research by Birmingham Midshires suggests that 39 per cent of the adults who received a total of £24 billion via performance-related bonuses during 2006 saved their cash, a figure which could help with debt management and reduce the time it takes to pay off personal loans.

Director of savings operations Jason Robinson said: "We all know that it can be extremely tempting to spend a large one-off payment but the research found that over a third of people are squirreling away their bonus and we think this is a good start."

He added that those looking for a competitive savings account should shop around for the best deal possible.

The study also revealed holiday and car purchases as popular uses for the average £1,758 in bonuses accrued over 2006.

Meanwhile, Toby Eccles, spokesperson for the Commission on Unclaimed Assets, claimed that moves by the government to withdraw £400 million out of dormant bank accounts could help some of the most financially excluded groups in Britain who may find themselves unable to successfully apply for a personal loan.

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