Recent research suggests that up to a third of people living in Briton can’t afford to put aside any money for a rainy day.
Around 31 per cent of people said they didn’t put anything aside, with 27 percent saying they couldn’t even afford too due to current economic constraints.
Shockingly 32 per cent of people admitted that if they lost their job they would have no savings to fall back on, which would mean relying on loans, credit cards, benefits or their partner to help them until another job came up. Only 11 per cent of people suggested that they would be financially stable for a short period until they found alternative work.
People who are saving are on average putting aside around £200 or 12% or their monthly salary.
A quarter of people said they were putting less aside each month than they used to because of money getting tighter since the credit crunch, but around 20% said they were putting more into the savings each month and struggling more in day to day because of job security fears.