Britons opt for belt-tightening
The image of the lavish British spender could be fast becoming a myth, new findings from Legal & General suggest.
According to the firm's MoneyMood survey, the UK was a nation of savers in January, with shoppers reacting to the impact of high street costs over the Christmas period by tightening their belts.
The research reveals 59 per cent of consumers were in the mood to save at the start of the year, an increase of six per cent on the figure for January 2005.
'This is the highest figure we’ve yet recorded over 17 months of tracking and indicates the MoneyMood of the nation is firmly in 'save' mode,' said Julia Clayworth, Legal & General head of direct investments.
This shift in national spending habits follows a Christmas period burdened by raised high street prices.
Legal & General's data shows that people who were 'in the mood to save' before Christmas planned to spend £364 extra over the month - they actually ended up shelling out an average of £509.
The result is emphatic – only one in four Britons anticipates any kind of spending spree over February. | 
