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Britons dig into £4,600 of savings to cover living costs
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=10108		 Page 1 of 1
Author:  Amnesia10 [ Sat Aug 21, 2010 4:10 pm ]
Post subject:  Britons dig into £4,600 of savings to cover living costs
http://www.telegraph.co.uk/finance/pers ... costs.html

Quote:
The rising cost of living means they have had to turn to other sources of income other than their pensions to survive the fallout of the recession.
Latest research by investment group Schroders suggested Britons – including the over 65s – have tapped into an average of £4,600 of their savings during the past year. It adds up to the equivalent of £60 billion.
Author:  ProfessorF [ Sat Aug 21, 2010 7:22 pm ]
Post subject:  Re: Britons dig into £4,600 of savings to cover living costs
Savings? I'd love some. Where do you get them from?
Author:  Amnesia10 [ Sat Aug 21, 2010 11:42 pm ]
Post subject:  Re: Britons dig into £4,600 of savings to cover living costs
Actually a few years ago the median savings were as little as £150, I do not think that it has increased that much in the intervening period. There are those with savings and they can have a substantial amount but the majority are living from paycheque to paycheque. Mortgages were ignored from the figures. Even so many people simply do not earn enough to provide for a pension as well as save, or in fact either. For most their home was their saving. Without that property bubble people would be very aware of how little the government policies actually benefited them.
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