Press releases


Mark Gregory - Group Chief Financial Officer
Mark Gregory
Group Chief Financial Officer

23 January 2012

Mark Gregory - Group Chief Financial Officer
Mark Gregory
Group Chief Financial Officer

Year on year the number of people who say they’re in the mood has levelled at 69 per cent, but the number of women who say they’re in the Mood to Save has increased markedly.

To view a chart showing the latest figures click on the link on the right - MoneyMood Survey® MOOD TO SAVE 2012

The relative positions of the sexes are reversed compared to last year, when more men were in the mood to save than women. The percentage of women who say they are in the mood to save has increased to 72 per cent from 67 per cent last year.  However, the percentage of men who say they are in the mood to save has fallen slightly to 66 per cent (70 per cent in 2011).

1,2,3,what are we saving for?

Perhaps the increase in the “Mood to Save” among women is linked to a change of focus in what we’re saving for this year. Analysing the results of the Survey, the top two things the nation said we’re saving for have not changed – top again this year are:
Saving for a rainy day = 66 per cent
Saving for a holiday = 57 per cent
However, here is a marked increase in saving for things that help to manage household finances this year. The biggest increase in items we’re saving for are:
Savings for home improvements or decorating = 50% (35% in 2011)
Saving to pay a household bill = 49% (33% last year)
To afford petrol/fares to work = 26% (13% in 2011)
To pay off credit card debt = 21% (12% a year ago)
For some new clothes = 30% (20% in 2011)

Commenting on these findings Mark Gregory, Legal & General Executive Director Savings said; “The focus of saving has shown a significant shift to managing the household bills as people continue to struggle against the rising costs of utilities and fuel with little expectation of an increase in income to help soften the blow. Our latest figures indicate that very few people (only 7%) expect their household earnings to go up faster than inflation this year and even fewer (3%) expect their savings to match inflation. Budgeting, to meet short term needs to pay bills and avoid sinking into debt, has become the prime focus of millions of households up and down the country. But we would urge people not to neglect their long-term needs, such as saving for retirement, because of today’s immediate concerns.”


Across the UK the number of households saying they’re in the “Mood to Save” has remained level year on year. But the Mood has shifted significantly in a number of regions.  Over the same period the “Mood to Save” is much higher in the N East, East and West Midlands, East Anglia and up slightly in Wales. In both the South East and South West more households are in the  “Mood to Spend” and we have seen a significant drop in the “Mood to Save”.


“Mood to Save” by region
RegionMood to Save  Q1 2011 %Mood to save Q1 2012 % ChangeNumber of households in Mood to SaveBased on Households per region  (million)
N East69 62 -7  Down 56,0000.8 
N West 5967+8 Up 184,000  2.3
Yorks and Humberside 6462-2 Down 36,000  1.8
E Midlands6876+8 Up 128,000  1.6
W Midlands  7086 +16 Up 280,000  1.8
East Anglia6377+14Up 280,0002.0
London 68 68No Change   2.7
South East69 64 -5 Down 145,000  2.9
South West 7671 -5 Down 85,000  1.7
Wales 6567 +2 Up 20,000 1.0
Scotland 74 70