Average Brit only has £98 to spare at end of the month

by Ed Bowsher on 25 August 2011  |  2 comments
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Your average Brit doesn't have enough money to build a big enough savings pot.

I saw some rather worrying survey results today.

According to myvouchercodes.co.uk, your average Brit has £98 to spare at the end of the month once all spending on bills, food, shopping and the like has left his/her account. The equivalent figure a year ago was £186.

These figures are worrying because they suggest that people don’t have enough money to build up a decent-sized savings pot. And if people don’t have enough savings, they’re very vulnerable if they’re made redundant or become ill.

The best way to boost your savings is to budget. And the best budgeting tool I know is lovemoney.com’s MoneyTrack. All your online bank accounts and credit cards are aggregated in one place, so you can see exactly how much money is coming in each day and how much is going out. What’s more, your spending is categorised into different areas such as restaurants or housing costs.

You can also track your success against your individual budgeting targets. Check it out now.

More:  Six easy ways to save money – today!