According to the latest Quarterly Savings Survey by NS&I, the British population is feeling increasingly confident about its ability to save more in the coming year. Perhaps encouraged by recent reports of a financial upturn, British savers are more confident in their outlook with over a quarter of the population (27%) saying they are more likely to save money in the next 12 months than they did last year.
The NS&I figures reveal that male savers appear especially confident about the likelihood to set more money aside in 2010, with almost a third (30%) saying they will save more in the next 12 months, up from 25% in autumn 2008. By comparison, women savers have remained consistent in their outlook with 24% expecting to save more in the coming year, the same figure as autumn 2008. It is also the first time since spring 2008 that male savers have said they are more likely to increase rather than reduce the amount they save over the coming year,
Tim Mack, NS&I's savings spokesperson, commented: "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."
Greater London, Wales, East Anglia and the North East England are the areas displaying the most certainty, while people in the South West are the least optimistic. Just 22% of people in this area thought they would save more in 2010.
For regional data, a copy of NS&I's Quarterly Savings Survey, case studies or further information on the statistics supplied in this release please contact the NS&I media team. Previous copies of the survey are available from the NS&I website.
Notes to editors
The Quarterly Savings Survey began in 2004, and reached its 5-year anniversary in autumn 2009
The autumn 09 omnibus survey was conducted by TNS, amongst 3012 respondents between 4 September 2009 and 1 November 2009.
Senior spokespeople are available for interview and high-resolution photographs can be supplied.
About NS&I
NS&I is one of the UK's largest financial providers with almost 27 million customers and over £96 billion invested. It is best known for Premium Bonds, but also offers Inflation-Beating Savings accounts, Savings bonds, Guaranteed Equity Bonds and Children's Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.
NS&I products are available over the telephone, internet, post and by standing order. They are also available through a network of Post Office branches, and the product range guide is available in over 300 WHSmith high street stores.
Gill Stephens, National Savings and Investments, 375 Kensington High Street, London, W14 8SD, 020 7348 9301, www.nsandi.com
