Savings have dropped as people cope with lower incomes.
British savings have fallen in the last quarter during a "challenging" financial year.
The level of cash set aside by British savers has dropped again marking the lowest level for five years, according to research from National Savings & Trust.
The survey found that the average Briton saves just 6.69% of their monthly income, which equates to £82.92 - at the same time last year people were saving almost £6 more. However, this could be the result of savers setting themselves more realistic targets in light of a decline in income and the government's implementation of cost-cutting austerity measures. The average monthly take-home income of a British worker has dropped from £1,252 in the summer 2010 to £1,239.10 this autumn.