Brits dip into savings every week

Almost a fifth (17%) of Britons are dipping into their savings on a weekly basis, with those accessing their rainy-day funds doing so to cover bills (38%), rent (9%), transport (9%) and even medication (8%).

What’s more, almost a quarter (23%) of Brits are unable to put anything away each month, while another 27% struggle to save a tenth of their income.

It is leaving half (46%) feeling that they should be saving double, if not triple, the amount each month.

The new study by online savings provider Ford Money, also found that over a third (34%) believe saving as much as possible, even up to 50% of their income, each month is the best strategy.

Aston spoke to author and founder of This Girl Talks Money Ellie Austin-Williams.

Photo by Colin Watts on Unsplash