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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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Northern Ireland WeatherToday:A mostly cloudy day with outbreaks of rain, most persistent and occasionally heavy across southern and western counties this afternoon. Risk of low cloud and fog patches affecting the Down coast. Light winds. Maximum temperature 15 °C.Tonight:Continuing cloudy through the evening with further outbreaks of rain, the rain turning lighter and patchier from the south overnight. Winds remain light. Minimum temperature 8 °C.
