A quarter of adults in East of England have less than £100 in savings amid cost of living crisis
New research also found one in seven have nothing at all put away
Last updated 7th Nov 2022
Over a million people across the East of England have less than £100 in savings, according a new study.
New research for the Money and Pensions Service also found around 1 in 7 people in the region have nothing put away at all.
It means many people in the region are living without a financial safety net, amid the worst cost of living crisis in a generation.
Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service, said:
“Over a million people across the East of England find it a challenge to save and this leaves them vulnerable when sudden expenditure items arise.
"When you add in the anxiety that they feel with their credit commitments, the weight of that worry can quickly become overwhelming.
“This Talk Money Week, we want everyone to start the conversation with family or friends and share the burden of any money worries.
"By dealing with the problem head on, people can discover just how helpful free debt advice can be and see the importance of talking to their creditors early. They can also begin to find a way forward, no matter how difficult their situation might feel.
“Free help and guidance on how to do all of this is available via our MoneyHelper service and I’d urge everyone who needs it to get in touch today.”