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PPI charges: One in three Brits cannot save

One in three people in Britain cannot afford to save and 25 per cent who can save say the money they put aside is not enough.

That is according to new research by Skipton Building Society, which found that 24 per cent of people have no savings at all, while 55 per cent of people save less than £100 per month.

Kris Brewster, head of products at Skipton Building Society, said: "We all know how difficult it is to put money aside at the moment, however as we move into a new year this is the ideal time to start re-assessing your finances.

"We know from our research that people want to save - it just isn't always easy to get to that point where you feel able to."

The research revealed that Wales was the best area for saving, with the average person having £253 in savings.

It revealed that the south west of England is the worst, with people having just £132 put away.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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