Savings and investments top consumer priorities - Savings - News - Moneyfacts


Savings and investments top consumer priorities

Savings and investments top consumer priorities

Category: Savings

Updated: 07/04/2010
First Published: 07/04/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Saving, investing and paying off debt head up the list of consumer priorities, as people move away from a culture of borrowing and credit.

In fact, expected savings, investment and repayment activity is at its highest point for almost four years, a survey conducted by GfK NOP for JGFR has found.

More than seven in ten (71 per cent) UK adults expect to save and invest over the next three months, up from 66 per cent a year ago and at its highest point since March 2006.

Putting money into an ISA is the most popular method of saving, with 40 per cent consumers choosing to put their money into one.

Debt repayment remains a priority for over a quarter of the population, with the net proportion of Britons looking to pay down debt well above the average.

As such, the proportion of adults looking to borrow money is historically low, at just 14 per cent.

Investor sentiment is at a high point, with attitudes towards share buying at their most positive for three years.

The demand for pension and life products has increased since the beginning of the year. More than four in ten UK adults (41 per cent) expect to pay into a regular or lump sum pension scheme in the next three months, up from 39 per cent in December and on a year ago.

"The quarter's survey data reinforces what is becoming the new normal, i.e. greater savings and investment activity in prospect and low demand for borrowing," commented John Gilbert, chief executive of JGFR.

Find the best savings account for you - Compare best selling 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 Any products featured may be withdrawn by their provider or changed at any time.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

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!