Consumer sentiment towards saving rose in March to reach its highest level in six years, a new survey shows.
The Nationwide UK (Ireland) Savings index saw a significant improvement in respondents' attitude towards saving, particularly among those aged 50 and under.
There was also a rise in the number of people who said they saved regularly, with savers rising to 42.3% in March from 41% in February.
However those surveyed also felt less positive about the environment for saving, with the number of consumers who believe that government policy is encouraging people to put money away decreasing.
Nationwide suggests that this could be a reflection of people's concern around the ongoing negotiations to form a new government.
Today's survey also reveals that over 40% of people said they would use any surplus cash to pay off their debts, including their mortgage.
A further 15% said they would spend any surplus money, up from 12.4% who said the same time in February. 10.8% said they would invest the surplus cash.
Brendan Synnott, managing director of Nationwide UK (Ireland), said some likely reasons for the increase in positivity on savings is the fact that consumers have started to pay down their Christmas debts as well as another fall in unemployment.
