Press releases


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

12 March 2013

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

In the mood to save …

The latest MoneyMood research reveals that 69 per cent of people are in the Mood to save.

This is on a par with the previous two years and the highest level since measurement began eight years ago. 

Interestingly, the MoneyMood of the nation shifted towards saving soon after the Coalition Government came to power in May 2010 and has maintained that level to date. 

In the latest survey there is an increase in the number of men who say they’re in the Mood to save, while the number of women in the Mood to save appears to have fallen off since last year.

To view the chart - MoneyMood Survey ® “Are you in the mood to save?” Q1 2010 to Q1 2013 - please click on the link to the document on the right of this page.

Around half of us can afford to save …

The MoneyMood Survey also shows almost half of households in the UK (49%) can afford to save – i.e. “Have some money left over at the end of each month after paying bills and debts”.  

However, not quite as many of us can afford to save now compared to the same period last year. The number of “stable” households with money left over each month is around 360,000 less than the equivalent figure (51%) in January 2012.

And monthly saving is up by 10% …

Across the nation we are saving more than this time last year. 

The latest figures show the average monthly saving (for those households who say they can afford to save) is £103 across the UK, up £10 per month (10%) since January 2012 (£93). 

Regionally the figures perhaps tell a different story. Some are saving a lot more and others are showing a significant drop in monthly savings.


  • London (£240 pm), Yorkshire and Humberside (£131pm), the North West (£126 pm), the West Midlands (£114 pm) and Wales (£82 pm) are all saving more than this time last year.
  • Yorkshire and Humberside has produced the biggest increase with average monthly saving up by £97 per month.
  • East Midlands reported the biggest drop in monthly savings – down £135 per month on average versus 12 months ago.
  • Elsewhere homes in the South West (£50 pm), East Anglia (£85 pm), East Midlands (£42 pm) and Scotland (£64) appear to be feeling the crunch with falls in saving at the start of this year compared to January 2012.
  • Those in the South East and the North East appear to be saving around the same (on average) as they were in January 2012.

To view the chart - MoneyMood Survey ® “How much can you afford to save at the end of each month?” Q1 2010 to Q1 2013 - please click on the link to the document on the right of this page.

MoneyMood Survey® What are we saving for?

Saving for the unexpected events in life, putting money aside for a holiday and paying household bills are the top reasons for medium to long term saving. 

Interestingly, “having fun” seems to be further up the list this year with “Saving for a leisure pursuit” appearing in the top five.

The top five reasons for saving this year are:

  1. Saving for a rainy day = 71% - (up slightly on last year - 66% in January 2012)
  2. Saving for a holiday = 62% - (up slightly versus 57% in 2012)
  3. Savings to pay household bills = 57% - (49% in 2012)
  4. For decorating/home improvements = 52% - (50% last year in January)
  5. Saving for a leisure pursuit = 43% - (up from 33% in 2012)

Just outside the top five, in sixth place, “Saving in case I lose my job” showed the biggest increase in January this year – at 40% (up from 29% in January 2012) it would appear around a third more people have given it as a reason for saving. 

Perhaps this is a reflection of a continuing perceived weakness in the job market despite half a million more people in work over the last 12 months*.
Note * Summary of labour market statistics - Office for National Statistics, 23 January 2013: “Compared with a year earlier the total number of people in employment increased by 552,000, the largest annual increase since 1989.”

Saving back on the agenda:
Commenting on these findings Mark Gregory, Legal & General Chief Executive Savings said; 

“The good news is that half of households can afford to save and for most of these saving definitely appears to be back on the agenda with average saving per household, £103 per month, up 10% this year. 

For those who are saving, we have seen an increase in the numbers saving for a “Rainy Day”, and saving to meet short term household needs. Around 8 million homes claimed they were saving to pay the bills. 

We are also seeing early signs of a move back to long term saving, such as saving for a pension, up 25%.

It’s not all good news. Our latest survey shows that 368,000 fewer homes say they’re in a position to afford to save than a year ago. We have also seen a drop in average monthly saving across several regions.

We hope that we will see people saving in even bigger numbers once we have weathered the current economic storms.”

REGIONAL DATA – change in the number of households that can afford to save:

Across the UK the number of households saying they can afford to save – i.e. “have money left over after paying bills and debts each month” has fallen by 368,000 year on year. 

Year on year the number of homes saying they can afford to save is much higher in the Yorkshire and Humberside region, and up year on year in the South East West and also up slightly in Wales. 

But in the rest of the country fewer households have money left over for savings after paying bills and we have seen the biggest drop in the number who can afford to save in East Anglia, London and Scotland.

To view the RegionalData showing the change in the number of households that can afford to save Q1 2010 to Q1 2013 - please click on the link to the document on the right of this page.

Notes to editors


Research for the Legal & General MoneyMood Survey was carried out by TNS Omnibus.

Telephone interviews were conducted among a nationally representative sample (in GB) of around 1,000 adults (age 18+) between, 13-15 January 2012 and 18-20 January 2013.

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.

The LEGAL & GENERAL MoneyMood Survey is registered by Legal & General plc.

For more information plea