Savings levels fall as living costs for parents rise

Two recent reports have shown how many people are struggling in these financially difficult times. Research from National Savings & Investments (NS&I) shows that over six million people have no savings. A separate report from the Joseph Rowntree Foundation has found that the minimum income needed to be earned by parents to give their family an acceptable standard of living has risen over the past year. Savings The NS&I survey found that people were saving on average 8% of their monthly income, which equated to around £100 per month, interestingly men are saving more than women. The survey found that most people do not ...