Saving confidence 'on the up' - A significant number of people are looking to save more money over the course of 2010, it has been revealed.
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A significant number of people are looking to save more money over the course of 2010, it has been revealed.
Author: Sam Gooch
Date: Jan 13, 2010 - 10:12:48 AM
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A significant number of people are looking to save more money over the course of 2010, it has been revealed.
Britons are taking an increasingly positive approach towards saving, new research has shown - and such a trend appears to be particularly the case among men.
Such is the assertion of NS&I which points towards findings indicating that just over a quarter (27 per cent) of people claim they are likely to place more money in saving accounts over the course of 2010 then they were able to do in 2009.
However, men appear to be leading the way when it comes to setting money aside, as 30 per cent state they will boost savings in UK accounts over the coming year. Not only does this represent a rise from the 25 per cent who felt this way last autumn, it is also the first improvement in saving confidence to have been recorded since spring 2008.
On the other hand, just under a quarter (24 per cent) of women state they will save more - the same figure recorded in the previous NS&I survey.
On a geographical basis, those living in the north-east, East Anglia, Greater London and Wales are those most optimistic about saving.
However, confidence about tucking money into cash ISAs and other saving products falls among residents in the south-west. With only 22 per cent of people thinking they will set more cash aside, saving confidence here is the lowest recorded in Britain.
Commenting on the findings, Tim Mack, savings spokesperson for NS&I, states: "People are increasingly confident that they will save more over the next year than they have done in the last year. Improving prospects in 2010 may be one reason, or it could be that people are taking the new year as an opportunity to review and refresh their finances and to increase their savings to boost their financial security."
Research released by Abbey last December showed the average Briton was putting £198 away each month, a rise of 21 per cent from that saved at the beginning of the year.
View all articles by Sam Gooch
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