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A third of Brits less likely to save in early 2008

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06/02/2008

British savers’ good intentions look like being thwarted, according to research conducted by National Savings and Investments (NS&I).

Although Brits claim they want to save more, they are increasingly pessimistic about their ability to save, figures from the quarterly savings survey suggest.
 
When asked about their savings aims, respondents said their ideal monthly savings target was £180. Though this was an increase in expectations from the previous quarter when they stated £174, many people feel they won’t be able to put away those extra pounds in the coming months. A third of Brits surveyed said they would be less likely to save in the next three months compared to just over a fifth who stated they would save more.
 
Dax Harkins, senior savings strategist at NS&I, said: “Despite a strong desire to put more away in the savings pot, many people are really feeling the pinch. A little modification to your daily routine, which is sustainable, can help you build up quite a considerable nest egg.”
 
NS&I has issued tips to people wanting to reach their savings targets in 2008. It suggests putting away your car and jumping on public transport or walking to work as a great way to make considerable savings as well as growing your own vegetables and considering using online trading websites.
 

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