More than two thirds of people in the UK have managed to save over the past 12 months, according to research by Lloyds Bank.
The latest Savings Report reveals that people are feeling increasingly confident in their financial positions and are boosting the amount they are saving as a result.
In the first quarter of 2015 almost 7 in 10 people said they have saved regularly over the past 12 months, up 5% from Q4 2014.
Of the 6,210 people surveyed:
- 44% saved at least once a month during Q1 2015, up from 37% in Q4 2014
- 23% have more than 4 times their monthly household income in savings
- 18% have saved more than £500 in the last month and 9% have save more than £1,000.
Philip Robinson, savings director for Lloyds Bank, said:
“For people who may not be as confident with their current savings habits, it’s important to try and save a small and regular amount each month. This can help to build a strong savings pot over time, which can be increased as circumstances improve.”