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Britons 'can afford just 52 days without work'
25.07.2008
The average Briton has savings that would only last them for 52 days if they were unable to work, new research suggests.
Furthermore, over a third of people would be able to last only 11 days, according to the survey from Yorkshire Building Society.
However, 17 per cent of respondents think they or their partner may be unable to work for up to 6 months in the future due to illness.
Tanya Jackson, corporate affairs manager at the building society, says: "In the current economic climate, this research paints an extremely alarming picture for those consumers without any protection products in place."
She urges consumers to consider their protection needs and whether they may benefit from a payment protection scheme.
Britons were recently advised to ensure they shop around for the best savings account to suit their individual needs.
Head of savings at Sainsbury's Finance Helen Cook said people should consider when choosing a product whether or not they are the type of person who will get around to moving their funds across different savings accounts to get the best rates.
Furthermore, over a third of people would be able to last only 11 days, according to the survey from Yorkshire Building Society.
However, 17 per cent of respondents think they or their partner may be unable to work for up to 6 months in the future due to illness.
Tanya Jackson, corporate affairs manager at the building society, says: "In the current economic climate, this research paints an extremely alarming picture for those consumers without any protection products in place."
She urges consumers to consider their protection needs and whether they may benefit from a payment protection scheme.
Britons were recently advised to ensure they shop around for the best savings account to suit their individual needs.
Head of savings at Sainsbury's Finance Helen Cook said people should consider when choosing a product whether or not they are the type of person who will get around to moving their funds across different savings accounts to get the best rates.