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Bank claims: Many Brits 'not saving at all'

Many Brits could be constantly making loan claims and dealing with credit card charges, with research from Santander finding 22 per cent of adults in the UK do not have any money saved.

Furthermore, the average amount set aside by the typical Briton every month has hit £105, a drop of seven per cent from the figure of £112 seen in 2011.

Younger people aged 18 to 34 intend to increase the amount of cash they save in the immediate future in 43 per cent of cases, compared with a national average of 23 per cent.

Recent research from Skipton Building Society found owning a savings account is viewed by many Brits as one of the top indicators that a young person has become a 'proper grown-up'.

Furthermore, men are generally putting £128 away every month, but this is just £83 among women.

"It's especially important given the current economic uncertainty that customers have some savings to protect themselves from unforeseen events," Santander's head of savings Matt Hall said.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801392722-ADNFCR



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