Whilst the economy may be slowly improving, household finance seems rooted in negative territory.
The Markit-YouGov Household Finance Index posted 37.9 in August, which, when below the no-change level of 50.0, signals deterioration in outlook.
The negative result was mostly a reflection of people's increased worry over job security, lower pay and the higher cost of living.
Nearly a third (30%) of the 2,000 UK households polled reported worsening finances during August, compared to the mere 6% that reported improvements.
Government cutbacks, likely tax rises and higher inflation meant that nearly half of households expect their finances to worsen in the year ahead, compared to the 25% that anticipate improvements.
"The latest results from the HFI demonstrate that, broadly, the public do not base their personal financial outlook on one quarter of strong GDP growth," commented Todd Davis, financial services consulting director at YouGov.
"People continue to base their expectations on more immediate and personal experience and many are still facing employment uncertainty and constrained personal finances."
During these tough times it's important to make the very most of your money and find a decent interest rate for your savings.
We're here to help take the pain out of finding the best savings rates around.
For the best returns, a market leading rate of 4.75% is available from ICICI Bank on balances of £1,000 or more, although savers must put their money away for five years.
Barnsley Building Society is offering a rate of 4.25% if you're happy to leave your money invested until 30 September 2014.
If you want to be able to access your money a little quicker, Coventry Building Society pays a rate of 3.70% on its two year fixed rate bond, while Santander has a one year deal paying 2.80%.
Or, if you're the type of person who prefers the comfort of having instant access to your money, Halifax offers a rate of 2.60% on balances of just £1 or more with its Web Saver Extra account.
Find the best savings rates for you - Compare savings accounts
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