'Third of people' without savings

Friday January 7th 2011

A survey has revealed that nearly a third of Britons do not have any savings to fall back on if they suddenly found themselves without a job.

According to website VoucherCodes.co.uk, around 31% of people do not save any of their pay, with 27% of those blaming the current economic climate.

Only 11% of people questioned said they had enough money to last them for up to four months if they were suddenly without an income.

The average person saves £195 each month - the equivalent of 12% of their pay.

People without savings said they would try to get help from family, or use loans or credit cards if they needed money to survive on.

A quarter of people said they were saving less following the economic downturn because money was tighter, but 19% said they were saving more because they were worried about job security.

Copyright © Press Association 2011

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