Over a third of people claim they are unable put any money into a savings account on a regular basis, a new survey has found.
Research carried out by Sainsbury's Bank reveals that the average UK adult puts just 5.9 per cent of their gross income in to a savings account each month and 37 per cent of people say they are unable to save anything at all.
The study also found that younger and older people find it hardest to put cash into a savings account with 43 per cent of those under 24 and 41 per cent of those over 65 saving nothing.
Neil Cameron, savings manager at Sainsbury Finance, said: "Many people are clearly finding it difficult to save, with a worrying number unable to set aside anything at all.
"It is concerning that many people have decreased the amount that they are putting aside in savings since last year."
He added that anyone who was finding it difficult to save in light of the current economic climate should make sure they have the best available savings account.
Last week, Brain Capon of the British Bankers' Association said that consumers should continuously review their situation to make sure they have the best savings account possible.
People struggling to boost savings, survey finds
People struggling to boost savings, survey finds
Wed, 05 Mar 2008
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