UK 'in saving mode'
Published On 23 March 2007
People in the UK are increasingly planning on saving their money, perhaps avoiding the need to use debt consolidation or debt relief services in the future, a new report found.According to Legal & General's 'MoneyMood' survey, the desire to financially save in February increased for the third year. Currently, 64 per cent of adults in the UK said they were in the mood to save.
In the same month a year ago, only 54 per cent of adults said they felt like saving instead of spending.
Similarly, less than a quarter (24 per cent) now said that they were in the mood to spend their money.
"These latest figures show the 'MoneyMood' of the nation is firmly in save mode," said Claire Stracey, director of customer marketing at Legal & General.
Ms Stracey added that the survey "found that the percentage of households who said they have money to spend after paying bills and debt payments has not changed over the three years".
"That's good news as it shows that the majority of households (58 per cent) are in a position to save rather than struggling to make ends meet."
Separate research also revealed that more people in the UK could have extra income to save after a record number were given bonuses by their employer.
Birmingham Midshires found that 29 per cent of workers received a bonus in the last year - on average worth £1,758.
