Brits gloomy about savings outlook, says survey

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Brits gloomy about savings outlook, says survey

Thu 15th Jan 2009

Brits are pessimistic about the outlook for savings, according to a survey released recently.

The poll, conducted by Nationwide Building Society, found that 59 per cent of people in the UK believe they will save less than they need to this year.

Nearly half of those surveyed said they believe that the current economic climate means it is a bad time to save. Under a quarter of those surveyed said they believed that now is a good time to save - the lowest figure since Nationwide's polling began last year.

Nationwide's director of savings Matthew Carter said: "Of course, we shouldn't be completely surprised by some of these results as financial pressures take their toll.

"As we enter 2009, we would like to encourage people to save what they can and to choose a savings account that meets their needs."

Last year, a survey by price comparison site moneysupermarket.com found that Nationwide is the banking brand Brits trust the most when it comes to savings.

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