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February increases saving mood

March 23, 2007 by admin  
Filed under News, News-Banking

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We all begin February with a good financial attitude, a desire to carry out sensible banking and a mood to save.

That is according to Legal & General which has published its Money Mood Survey for 2007.

In it, the firm tries to gauge the mood of the nation when it comes to saving and 2007 has proved to be the third year of growth.

According to Legal & General, 64 per cent of British adults were in the mood to save at the end of February.

This signals a rise of eight per cent compared to the same period in 2005. In addition, the mood to spend has fallen.

The study claims that 2007 saw the lowest mood to spend in February figures ever, with just 24 per cent of adults wanting to splash the cash.

“These latest figures show the Money Mood of the nation is firmly in save mode as we enter the Isa market this year,” remarked Claire Stacey, director of Legal & General.

“Money Mood also found that the percentage of households who said they have money to spend after paying bills and debt payments has not changed over the three years.

“That’s good news as it shows that the majority of households (58 per cent) are in a position to save rather than struggling to make ends meet,” she added.

This year’s Isa deadline is April 5th so if you are considering saving your money in a high-interest account you had better hurry.

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