Nationwide Savings

Britons are feeling more positive about their ability to set aside savings, new research shows.

Six out of ten British consumers admit they are saving less than they should be at the moment, but a large number are confident that they will be putting aside the right amount in six months time, according to a new survey by Nationwide Building Society.

The research shows that 52 percent of consumers expect to have fallen into good savings habits by May next year - up from 47 percent last month. Only 29 percent of those questioned believe they will still be saving less than they need to six months down the line.

Nationwide said that, according to its October expectations index, 27 percent of people expect their financial situation to be better in six months time than it is now.

This is up from just 14 percent in September and may explain why consumers are more optimistic about their ability to put money into savings accounts in the future, the building society claimed.

Matthew Carter, director of savings at Nationwide, said: "Our latest research shows a slight increase in the number of people who are feeling positive that they will be able to save the correct amount in the future, which is small step in the right direction. I hope more consumers put firm savings plans into action soon."

The research follows a survey by Birmingham Midshires which revealed that the average amount added to consumers' savings accounts each month fell by 34 percent in the three months to October compared to the previous quarter.

Compare savings accounts via money.co.uk