40% of Britons Unable To Save

17 Sep

A recent survey has shown that almost half of Britons are unable to save. Only 60 percent of those asked managed to put money into their savings account each month, saving on average £206. Back in January 34% said that they were unable to save. Of those who were able to top up their savings 65% used instant access savings accounts.

Another survey back in July found that a quarter of people had no savings put aside at all. With unemployment still rising those who are not saving must be concerned about what will happen if the are made redundant. We are lucky enough in this country to have support systems in place for those out of work but it is still not a good time to be job hunting.

Those unable to save should console themselves with the fact that ISA interest rates have hit an all time low. Its great to have saving to fall back on but those savings wont be growing by much until the economy recovers.

recession-piggy-bank

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