Brits cut back on savings

Elizabeth Fournier
ALMOST a third of UK savers are planning to cut back on the amount they put into saving accounts over the next 12 months, according to research released this morning by Lloyds TSB.

Thirty per cent of Britons said they expect to decrease contributions or stop saving completely this year, with forty per cent saying they don’t have enough money left at the end of each month to put anything away.

The Lloyds TSB savings index also found that 37 per cent of the UK’s population have less than their monthly household income saved, despite nine out of 10 saying they consider it important to put money aside to cover unexpected costs.