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Britons show desire to save in 2010

Britons show desire to save in 2010

Category: Savings

Updated: 22/01/2010
First Published: 04/01/2010

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Britons are more confident about their ability to save this year, with over a quarter of the population saying they are more likely to save more money in the next 12 months than they did in 2009.

Twenty seven per cent of people said they are confident of being able to put more money aside in 2010, figures from National Savings & Investments (NS&I) have revealed.

Males appear to be particularly keen to save more this year. Almost a third (30 per cent) said they will make an effort to put more money aside this year, up from 25 per cent in autumn 2008.

It is the first time since spring 2008 that male savers have said they will make an effort to save more over the next 12 months, rather than reduce the amount they put aside.

The outlook for female savers has remained consistent, with 24 per cent likely to save more this year – the same amount as autumn 2008.

"People are increasingly confident that they will save more over the new year than they have done in the last year," commented Tim Mack, savings spokesperson for NS&I.

"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."

The report found that people in Greater London, Wales, East Anglia and the North East are the most likely to increase their savings levels, while those living in the South West are least likely to do so.

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