Savers resolve to put away £620m in 2011

According to new research from Lloyds TSB, after losing weight and getting fit (25%), the most common New Year's resolution for people in the UK is to start taking control of their finances (11%).

Almost half (44%) of Brits getting their finances in tip top condition are focusing on their savings in the new decade.

Over half (57%) of the population said they planned to save more in 2011 to reach their savings target - an average of £1,232.64 this year. Almost a third (29%) aim to save up to £50 per month.  Over a third of women (35%) plan to put away £50 per month, compared to a fifth (18%) of men who are ambitiously aiming to save over £200 per month.

The average UK male aims to save £1,349.04 compared to women looking to save £1,128.36 during the year. The male population bolster their savings pots by over £40million more then the fairer sex. This is sizable when considering there are more women then men in the UK which may prove challenging for the 3% of the population whose new years resolution is to find their perfect partner. 

However over three quarters (78%) don't have a savings timescale. This shows that despite our initial determination to stick to a New Year's resolution, many of us find it difficult to make changes to our long term habits.

Greg Coughlan, Head of Savings at Lloyds TSB said, ‘For many of us, savings is a bit like going to the gym, we know we should do it but we keep putting it off. We all start the New Year with good intentions but as the weeks go by it's easy to let our resolve slip, particularly when you can't see the results of your efforts immediately.

‘Despite women outnumbering men in the population stakes, it would seem that men are leading in the savings league by 20%, as for every £1 women save, men save £1.20'.

Even though the vast majority of the population are saving for a stable financial future, an adventurous 16% said they were saving to be able to do something exciting in the future.