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In the mood for saving money

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Britons were keener to save money in January, with 65% saying that they were in the mood to tuck their spare cash away in a savings account, compared to 51% in December 2006.

This was one of the main findings of the latest MoneyMood survey – conducted amongst 1,000 adults in the UK – from Legal &General (L&G), and suggested that after the excesses of Christmas many people want to retrench their finances and adopt a more responsible attitude to them.

“The New Year is the time when people want to carefully compare savings accounts,” said L&G spokesperson Claire Stracey, “and to make up for the heavy spending patterns much in evidence before Christmas.”

In support of this, the MoneyMood survey found a correspondingly diminished desire to spend cash in January. “A fall in household disposable money is the most likely factor in pushing down the mood to spend in our survey,” she observed.

“MoneyMood found that the percentage of households that said they had money to spend after paying bills and making debt repayments fell again for the third year in succession.

Stracey concluded: “That would suggest that fewer households would be in a position to spend money this time around.”



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