However, the research also showed that some people on low incomes do save money.
Roughly a quarter of adults with household incomes below £13,500 have more than £1,000 in savings.
So either 42.3℅ of londoners have no financial sense or 42.3℅ of londoners arent getting paid enough to live in london.
Probably because we're a "nation of homeowners" As a bitter renter I always wonder what the point of saving is when you can just pile your cash into this magical bricks-and-mortar cash-hound we call property. No doubt 40% of the population think the same if they're lucky enough to be on the "ladder".
But surely what you're talking about is "investing". Saving implies saving cash, no?Cash is very much inefficient for saving. "Saving money" is in fact an oxymoron because interest rates are currently always below inflation, especially for small amounts.
But surely what you're talking about is "investing". Saving implies saving cash, no?
jeez i spazz out when i've got less than a months net wage in the savings.
jeez i spazz out when i've got less than a months net wage in the savings.
I'm really not comfortable unless I have a buffer of a few grand, no idea how people cope when running on empty!
No shock really,Its only going to get worse too with ever increasing rent prices & bills.
I've been saying since last year now,Our minimum wage in the UK should be at least £10 per hour,If not more.
This was posted 3 days ago.
http://www.bbc.co.uk/news/business-37477245