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People 'keener on saving than spending'

Cautious Britons are reining in their spending and saving extra, the latest Legal & General Money Mood Survey has found.

The firm said that there are currently around twice as many who said that they were "in the mood to save" than those who said they were "in the mood to spend".

However, Londoners were found to be somewhat less careful with their cash - with 31 per cent in the mood to spend and just 57 per cent looking to save.

Wealth management head of marketing at Legal & General Julia Clayworth commented: "In times of financial uncertainty it is more important than ever for people to keep a close eye on their spending and budgets."

Elsewhere on the survey, it was revealed that many Britons are having difficulty with paying their monthly bills - further evidence of the current economic downturn.

In particular, almost one in five northerners were found to be currently spending more to pay off debt and bills than they had in income.

Ms Clayworth added: "When money is tight it is all too easy for a larger than expected utility bill to push you into financial difficulty. This is when a savings plan really comes into action."

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