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25/02/2013
Report Finds 8 Million Britons Have No Savings
A new study has shown that some 8 million Britons have no savings at all.
According to a report from Scottish Widows, part of Lloyds Banking Group, almost 15 million Britons, some 31% of the UK adult population, are "not currently making any effort" to save for the future.
The research also found that during the last year there had been a rise in the number of people who had given or loaned "substantial" amounts of money to their children or other family members, often simply to help them meet daily living expenses.
The report also found that while the majority of Britons are managing to put some money away, nearly a third (32%) estimated the value of their total savings and investments at less than £1,000, a figure just under a typical household's combined monthly mortgage and council tax bill (£1,009).
(H)
According to a report from Scottish Widows, part of Lloyds Banking Group, almost 15 million Britons, some 31% of the UK adult population, are "not currently making any effort" to save for the future.
The research also found that during the last year there had been a rise in the number of people who had given or loaned "substantial" amounts of money to their children or other family members, often simply to help them meet daily living expenses.
The report also found that while the majority of Britons are managing to put some money away, nearly a third (32%) estimated the value of their total savings and investments at less than £1,000, a figure just under a typical household's combined monthly mortgage and council tax bill (£1,009).
(H)
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