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One in three Britons could not survive a week on their savings | Money | guardian.co.uk
With less than £249 in savings, 15 million people would run out of money in less than a week if they lost their job.

Fifteen million Britons could not survive from one weekend until the next on savings, according to research by HSBC. The bank has found that 30% of adults have less than £249 set aside as a financial safety net: 11% have some savings but less than £249, while 19% have no savings at all.

Apparently £249 is the equivalent of five days' average take-home pay, though the recommended minimum safety net is three months' pay, which based on the average would be £4,683.
The numbers of those claiming jobseeker's allowance announced yesterday show the fastest increase since January, to 1.47 million, and many more are expected to be joining the queue after next week's announcement on public sector spending cuts. And Lloyds has announced that it intends to scrap 4,500 jobs across its group IT operation, leading to the loss of 1,600 permanent UK roles.

"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char
by Melanchthon on Thu Oct 14th, 2010 at 01:57:04 PM EST
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