How long will it last?
Based on research by Legal & General
It is a well known fact that the majority of the UK population do not save enough. Research by Legal and General has found the average UK employee has enough savings to last just 32 days. Should the worst happen 26% believe their savings would last less than a week and 23% do not save at all so their ‘deadline to the breadline’ is tomorrow.
Interestingly 69% said they would go without food to make ends meet but only 50% would cancel their subscription services.
With no plan in place to deal with illness, loss of a family member or loss of a job we all need to think carefully about what would happen financially in the event of a shock such as that.
There is no better time than now to start building a plan, perhaps just starting with one less takeaway coffee on the way to work or sausage roll at lunchtime. As the famous slogan says ‘Every little helps‘ and you never know when that might come in handy.