Fewer people were happy with the amount they were saving in the past month, according to the latest Savings Index from Nationwide UK (Ireland) and the ESRI.
There was a 24 point drop in respondents’ attitudes to their savings during July when compared to June, according to the survey, as more people felt they were saving less money than they should.
This came despite a higher proportion of people saying they saving money on a regular basis in the month.
This drop pushed the overall index down to 112 for July, compared to 116 in June, and marks the second monthly fall in savers’ sentiment.
The index is still ten points higher than it was in July 2014, however.
The numbers were buoyed by a sharp rise in the Savings Environment sub-index, which asks people whether they believe it is currently a good time to save, and whether government policy is encouraging people to do so.
During July this figure rose 16 points to 121 – by far its highest point in the past year.
Meanwhile 42.7% of respondents said they would use any surplus money they had to pay off debts, including their mortgage, while 39% said they would put it into savings.
A further 11.6% said they would spend any extra money left after they had covered their everyday needs, while 7.1% said they would invest it.
