Savings were up nearly 100% in the last three months of 2006 but Britons could not resist the urge to raid the piggy bank, research has found.
Figures from Birmingham Midshires' Saving Britain campaign showed that consumers saved an average of £813 between October and December.
It compares with an average £413 set aside in the summer months, representing a 97% increase quarter on quarter.
Despite the upward trend in saving levels, Britons still managed to raid almost twice as much as they saved in the months running up to Christmas.
An average £1,552 was plundered from savings accounts between October and December - more than half of total average savings for the year, Birmingham Midshires said.
Jason Robinson, director of savings operations for Birmingham Midshires, said: "It is encouraging to see that levels of savings are increasing quarter on quarter, however it seems to be a case of one step forward and two steps back for British savers over the last few months."
