A survey by uSwitch.com has found that 21% of Brits don’t save anything at all, and just 31% save every single month. The survey found that on average, British savers put away £237 a month.
Meanwhile, a separate study by the Co-operative Bank suggested 20% of Brits have no savings set aside in case of an emergency. The research revealed that the most common types of emergencies that lead consumers to dip into their savings were unexpected bills (53%), boiler breaking down (46%) and loss of employment (45%). However, the Co-operative found that 1 in 20 people would access the money set aside for emergencies in order to pay for hair appointments, cosmetic surgery or even to buy clothes.
Source: Credit Action – April 2012 edition