Shortage of adequate savings is keeping Britons up at night

2nd March 2015


Nearly one in seven Britons are kept awake at night over money worries, which is ultimately impacting their day-to-day lives claims new research from

The analysis revealed that it’s Britons’ lack of savings that is making them toss and turn with around a quarter quoting savings as their biggest financial worry.

Some 60% of Britons do not have the recommended three-month ‘safety net’ of savings set aside and only half have a ‘stash’ put away for a rainy day.

The study also found that just 45% put savings into a pot each month. Despite worrying about their lack of savings, 41% admit to ‘splurge’ purchases that they either cannot afford or later regret.

When it comes to stressful financial situations, 36% admitted they would find being cut off from their gas or electricity provider the most stressful and more than a quarter would find being refused to withdraw money at a cash machine the most worrying.

However, when it comes to saving money, 80% shop in the sales, around half buy in bulk and a further savvy 45 per cent shop out of season.

However separate research from Scottish Widows has found that the UK is becoming a nation of savers, as the insurer’s savings study – which polled 5,000 – found the number squirreling away cash is up to 74% from 63% in 2010, with a steady year-on-year rise in the number of long-term savers.

Other key findings from revealed:


Britons financial worries


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