Nearly a quarter of Britons don’t save, and those who do are saving £13 less a month compared to a year ago, according to a recent article from the Telegraph.
During the past spring, 23 percent of consumers saved nothing at all, up from 17 percent in spring 2011, according to research by National Savings & Investments. The 6 percent year-over-year increase totals almost three million more people who aren’t saving.
Meanwhile, savers are now setting aside just £87 a month compared to £100 a month last year.
Another study by Legal & General indicated families are depositing fewer pounds into savings due to the lack of significant returns from savings accounts.
“When times are tough it can be difficult to save, but even putting away a few pounds each week will help act as a financial cushion, should you face an emergency,” says John Prout, retail customer director of NS&I.
“It is worth everyone taking another look at their finances to make sure their money goes as far as possible.”
Information for this post was taken from an original article by Emma Wall, a personal finance reporter for the Telegraph. Read her original article here.