People are typically looking to save over £5,000 in 2012.
Research carried out by Lloyds TSB found the average amount people are putting away is £5,384 and the main reason for doing so is to go on holiday.
Saving for a house, a car and reducing their debts are among the other reasons for storing cash offered by consumers.
Jatin Patel, director of current accounts for Lloyds TSB, noted people should set themselves goals if they want to achieve a certain level of saving.
"We are seeing that customers who do this are reaping the rewards of regular saving and making significant progress towards their goals in a short space of time," he added.
The study discovered those who set themselves a saving target two months ago are already 11 per cent of the way to meeting it.
Other reasons advanced for wanting savings are for a wedding, Christmas, children and birthdays.