In light of the cost-of-living crisis, more than half of consumers (54%) are concerned that the current economic environment will lead them to use up their emergency savings to keep up with rising prices, according to recent research from Charles Stanley.
This was much more true for women (61% vs 46%), and especially true for those aged 35-44 (66%), the research found. Three quarters (71%) of UK adults had an emergency fund able to last just under five months, it showed. Some 28% of people claimed it would cover between two weeks and two months of expenses. About 10% said it wouldn't last two weeks, while 22% chose over three months. Charles Stanley highlighted that of those with an emergency savings pot, a quarter (25%) of people had never needed to use it. 9% dipped in less than once a year, while others leaned on it more regularly. ...
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