Alliance & Leicester shows Britons saving the nation

17 February 2005
New research from Alliance & Leicester shows that consumer confidence in savings and investments is set to soar.

The Alliance & Leicester Wealth Tracker Index has found that people in the UK are planning to almost double the amount they are saving and investing.

Savings are expected to increase by more than £100, to an average of £232 per month.

Investments look to increase more than six-fold, helped by the upturn of the stock market -British people are planning to invest an average of £153 per month this year compared with £23 in January 2004, Alliance & Leicester claims.

"It's encouraging to see that people are not only getting into the habit of putting money aside on a monthly basis, but are also planning to increase the amounts they save and invest," Sarah Ennion, product manager for investments at Alliance & Leicester, said.

"There are some great rates available at the moment and consumers can reap real benefits from putting some of their cash by each month."

The report found significant gender differences in the savings plans, however - men look set to save 43 per cent of their disposable income or invest 32 per cent of it, whilst women plan to save only 32 per cent of their money and invest just 6 per cent of it.

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