The number of people planning to save over the next 3 months increased from 16% in spring 2013 to 18% in spring 2014, according to National Savings & Investments (NS&I).

The NS&I Quarterly Savings Survey reveals that the number of people unlikely to save fell from 22% in spring 2013 to 18% in spring 2014.

Men are more optimistic about saving over the next 3 months than women, with 21% of male savers planning to put money away compared to 16% of women.

Young people are most likely to save over the next 3 months, with 59% of those planning savings aged 16-34.

Key findings:

• Britons are saving an average £105 per month (8.2% of monthly income)
• the number of people with no savings fell from 15% (spring 2013) to 13% (spring 2014)
• more than half (56%) had enough savings to cover an emergency in spring 2014, up from 52% in spring 2013
• a fifth (20%) have savings between £10,000 and £49,999, up from 16% in 2013
• men are saving 35% more than women but women are saving a higher proportion of their monthly income.

A quarter (25%) of people are putting money away for a specific goal. Among these, the top 5 savings goals were:

• holidays and special occasions (40%)
• home deposits and improvements (35%)
• emergencies (28%)
• retirement (21%)
• a car (20%).

Julian Hynd, retail director at NS&I, said:

“We are seeing more positive signs and a better outlook on the national saving picture since last spring, when saving levels were among the lowest in 3 years. Even with the pressure on household budgets, Britons are putting away more of their income each month, with the average increasing from £87.81 to £105.43. The fact that more people say they have enough savings to cope with the unexpected is very good news.

“It is particularly encouraging that those in the younger age group are starting to feel more confident about their immediate saving prospects. We hope this will translate into building a pot of at least 3 months’ salary for a rainy day.”