Almost 70 per cent of people say they are 'in the mood' to save this year, according to new research from Legal & General.
This is the highest number of people saying they want to save since the research began six years ago. The number of men saying they want to save has risen 12 per cent from last year to 70 per cent, whilst the number of women looking to save is up four per cent to 67 per cent. Just one in five households surveyed said they felt inclined to spend.
Mark Gregory, Legal & General Executive Director of Savings, said: "This month's survey shows a significant swing away from 'spending' compared to the same period last year and appears to signal a resurgence in the 'saving mood'. Both men and women appear to be driving the revival of the saving habit with seven out of 10 in the mood to save."
The research found that most people had short-term needs in mind with their finances and the top reason given for saving money was "for a rainy day". However, Legal & General urges households to be aware of long-term needs too, such as retirement.
