New research has revealed the attitudes that the UK public have towards putting their money away for a rainy day.

Online lender Sunny surveyed over 1,000 people to find out how much the UK knew and understood when it came to budgeting, how much they saved and their money habits in general.

The research found 59% of people currently save money either regularly or as and when they can, while only 5% aren’t saving anything and never have. Worryingly, 38%of the UK have less than £1000 in savings, leaving them exposed to difficulty should an unexpected bill come their way.

Overall, 88% of those who took part have saved money in some shape or form at some point, however one in 20 believed that life was simply too short to put money to one side.

So which region in the UK puts the most money away on average every month?

1. London - £228

2. South East - £201

3. Northern Ireland - £178

4. East of England - £171

5. East Midlands - £151

6. Yorkshire and the Humber - £146

7. South West £139

8. Scotland - £136

9. Wales - £130

9. North East - £130

11. North West - £115

12. West Midlands - £112

The research also revealed…

• The average saver in the UK puts away £156 a month.

• Women are more likely to save than men, with 35% responding that they put away what they can, compared to 32% of men who took part.

• However, women are less likely to have investments than men. Only 29% of women surveyed said they held investments compared to 41% of men.

• 12% of people only save when they have a specific goal.

A full breakdown of the research results have been included in a new infographic which you can take a look at here

Issued for and on behalf of Zazzle Media for Sunny

Results collated from a survey of 1005 general respondents across the UK across 10/08/18 to 13/08/18

Sunny is the UK online loan product from Elevate Credit International Limited (a wholly owned subsidiary of Elevate Credit Inc.)

Sunny aims to offer an alternative for the UK’s short-term borrowers. Sunny is committed to lending responsibly through a simple and transparent product that only charges customers daily interest and allows customers the flexibility to repay their loan early so they only pay for the days they had their loan. Affordability checks using Sunny’s unique data and underwriting criteria are also rigorously conducted on every customer.

Sunny is also a member of the CFA (Consumer Finance Association), the principal trade association representing major short-term lenders operating in the UK. As a member, it works to the standards set out in the CFA Code of Practice. For further information go to www.sunny.co.uk. 

If you need help with your financial situation, or advice on what to do about debt you can visit The Money Advice Service, or Step Change debt charity.