Only a quarter of people believe that now is a good time to save, according to the latest Nationwide UK (Ireland) Savings Index
The index found that 40 per cent of people believe now is a bad time to save.
The Nationwide UK (Ireland) Savings Index increased by three points in August, slightly down from the four point increase recorded in July.
Nationwide UK (Ireland) managing director Brendan Synnott said the continued upward trend in the index suggests that people are continuing to save, and are adopting the precautionary savings approach observed during 2009 and early 2010 as they become more uncertain about the economic environment.
However, 54 per cent of people say that government policy discourages saving, an increase from 49 per cent in the previous month.