Britons show desire to save in 2010 - Savings - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

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

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

Compare savings accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.