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British savers are now putting less money to one side than they were in the previous quarter, new statistics reveal.

Figures from Abbey Savings show people are saving an average of £120 a month, which marks a £43 decrease on the average three months ago.

"This insight into the current state of British savings allows us to track the nations savings habits closely; we are certainly observing an overall decline which may not come [as] a huge surprise," said Reza Attar-Zadeh, director of savings and investments at Abbey.

He added that there "are some good intentions out there", while emphasising the need for sound financial planning.

The statistics reveal that men are typically putting away more money than women, saving an average of £155 a month compared to £86 a month for women.

Nationwide recently conducted a similar poll, which showed some optimism for the country’s savers when its index increased by two points.

However, it found that people are still reluctant to save due to uncertainties in the wider economy, with just over half of those questioned believing that saving is important.

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