The proportion of people who say they are saving money regularly fell sharply in August, acccording to the latest monthly Savings Index from Nationwide UK (Ireland).
During the month the proportion of regular savers fell from 41% to 36%. However, this is up from 30% the same time last year.
Today's index shows that optimism for saving in the future remains strong as four in five people say they expect to be able to maintain their current level of saving in six months' time.
Another one in ten expect to be able to save more in six months' time.
It also reveals that the proportion of people who believe that now is a good time to save increased to 30% in August - the highest level since May - and despite recent European Central Bank interest rate cuts.
But the proportion of people who believe that government policy encourages saving fell to just 6%, the lowest figure recorded since January.
Commenting on the index, Brendan Synnott, managing director of Nationwide UK (Ireland), said that while the August data shows a reversal of the recent improvement in attitudes towards saving, the underlying trend is still positive.
Looking ahead, he said that over 90% of people expect to be able to save the same or more than at present in six months’ time.
"We are also seeing improvements in economic indicators with increases in household net worth, overall economic growth, increased numbers in employment and a reduction in numbers unemployed. This means that more people will have disposable income available and so will be in a position to choose between spending and saving," Mr Synnott added.
