 Savings |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
City analysts today warned the government that the British economy is set to witness a recession which could last up to 18 months. Capital Economics predicts that the gross domestic product for the...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
| |
|
|
|
|
Friday 23rd May 2008
While more and more people are being forced to cut back or even stop their savings program a report out this week has made some controversial and very worrying claims. It seems that the UK is not a country of savers with more and more people unable to put any money aside for the future.
The report found that nearly half of the UK workforce would not be able to survive more than one month on their current savings, should they lose their jobs or other problems occur. Callcredit also found that the figure moved up to 53% in the 25 to 34 year olds, many of whom struggle to save. The research also found that one in ten people in the UK do not have enough income to cover their monthly costs and are already dipping into their savings.
However, perhaps one of the more alarming figures is the announcement that one in twenty people in the UK are spending over half of their monthly wages on debt finance. Such is the level of debt for many that they will still be under pressure for many years to come, with many having little chance of paying off what they owe in the foreseeable future. |
→ Full Savings News Archive
→ Return to Homepage |
|
|
|
| Other top stories in this section:
|
|
|
|
.gif)
