Almost half of British consumers have levels of debt greater than the amount of money they have in savings accounts, according to a new survey.
The research, conducted by Lloyds TSB, found that 42 per cent of respondents admitted to having no savings accounts at all.
Lloyds TSB undertook the study in an attempt to highlight the problem of people not taking financial fitness seriously.
Ian Larkin, Lloyds TSB's managing director of consumer banking, said: "Most of us know our body mass index, but our financial health seems to be less of a priority and often people have misapprehensions about the real state of their money."
The figures show that the fittest regions of the UK in terms of finance are the south-west and Wales, whereas Scots are the most likely to encounter financial difficulties .
Earlier this week new figures from Unbiased.co.uk revealed that consumers have worked the last 70 days solid to earn enough money to service the interest on our credit card and loan debt.
Brits struggle with savings accounts, figures show
Brits struggle with savings accounts, figures show
Wed, 12 Mar 2008
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