People in the UK now have eight per cent of their take home salary left each month, up from five per cent since the previous quarter, according to the  Disposable Income Index from Scottish Friendly.

London and Scotland top the tables, with people in each region having, on average, £263 left over each month after essentials are paid for.

Wales and the North East lag behind, with £193 and £182, respectively.

The survey also found the increase in disposable income has prompted a rise in the levels of saving.

Some 60 per cent of people in the UK now choose to put money aside each month, up five percentage points since the last index.

UK residents are currently putting an average of £287 per month into savings accounts or ISAs, equating to £10bn per month in savings across the UK.

Scottish Friendly suggests the eagerness to save may be linked to wariness about the future.

According to the report, 28 per cent of people surveyed in June foresee their financial situation deteriorating in the next three months, up three percentage points from 25 per cent last quarter.

Neil Lovatt, product director at Scottish Friendly, said: “The results show a stronger mood of personal responsibility among savers in the UK, across all income levels. Clearly this may be underpinned by a general wariness about the immediate future, but the fact that people are addressing this by saving more for a rainy day is positive indeed.”

While a third of respondents did not have any financial priorities, 22 per cent were focused on getting out of debt and 14 per cent were set on avoiding it in the first place.

Lovatt continued: “Debt is a preoccupation for many, and it is encouraging to see that repaying and avoiding it are amongst the top priorities for Britain today.”