Savings confidence grows amongst Brits Go compare with our comparison table

Savings confidence grows amongst Brits

05 January 2010 / by Andy Davies

Brits are becoming increasingly confident about their ability to save more this year, new research by National Savings & Investments (NS&I) has claimed.

NS&I has revealed that savers appear to more confident in their outlook for towards saving this year, with 27 per cent of Brits saying they are more likely to save money in the next 12 months than they did in 2009.

Male savers appear especially confident about the likelihood of saving more this year with 30 per cent saying they will save more over the forthcoming year – representing a five per cent increase since autumn 2008.

According to NS&I, these figures represent the first time that male savers stated they were more likely to increase rather than reduce the amount they save over the coming year, since spring 2008.

Meanwhile, the outlook from female savers remains unchanged since autumn 2008, with 24 per cent of women planning to increase the amount of money they put aside this year.

Commenting, Tim Mack, savings spokesperson for NS&I said: "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."

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