Sentiment towards savings down in June - survey

Tuesday 15 July 2014 09.23
Savers were more pessimistic last month, but more were saving despite this
Savers were more pessimistic last month, but more were saving despite this

Sentiment towards saving declined last month as people were increasingly discouraged by the economy and Government policy, according to the latest Nationwide UK (Ireland) / ESRI Savings Index.

The monthly index declined to 95 points last month – its lowest point since February.

More than 40% of those surveyed felt the economic situation had worsened for savers, while just a quarter felt now was a good time to save.

Meanwhile, 65% of respondents felt Government policy was discouraging savers – an increase of 8% on the previous month.

Despite this the proportion of people saving regularly was up on a monthly and annual basis, standing at 35%.

Slightly more people were also happy with the amount they were saving, according to the survey.

More than half of those asked said they saved at least €100 per month.