The fact that 32 per cent of savers do not currently have enough funds in place to pay for an emergency has been described as “really worrying” by National Savings & Investments (NS&I).
A spokesperson for the savings and investments provider said the fact that one third of people surveyed will not have enough funds in place in the event of redundancy or an emergency such as a boiler breaking is cause for concern.
And he added that the fact that the number of people regularly saving has been static at 47 per cent is interesting, adding that people should be saving more to create “a buffer against this [financial] uncertainty”.
Those who are in a financial position to do so may wish to consider increasing their saving levels, as doing so could prevent them from falling victim to bankruptcy should they be made redundant.
NS&I recently stated that it is “never too late” to start saving, adding that the drop in inflation could encourage more people to put their money into savings accounts.
By Tom Musk