Savings are slim for many in Britain

LONDON, July 25 (UPI) -- Millions in Britain have enough savings to last just 11 days should their income disappear, a study found.

Researchers at the Yorkshire Building Society found 36 percent of the country's adults have less than $1,000 in savings. By balancing this against the group's average spending habits, the study found their savings would be depleted in 11 days, the report said.

Women would be far worse off then men, the Daily Mail reported.

"In the current economic climate, this research paints an extremely alarming picture," Yorkshire's Tanya Jackson said.

"Many people's finances are already finely balanced due to the rising cost of living. But our research reveals that both state benefits and savings are not viable options for the majority of consumers to rely upon for any adequate length of time," she said.

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