NS&I reports growing confidence among British savers for the year ahead
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&Iís savings spokesperson, commented: ďPeople 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.Ē
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&Iís 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.
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NS&I is one of the UKís 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 Childrenís Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.
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