One quarter of Brits don’t expect to ever start saving again

A weighty 40 per cent of consumers are currently not saving due to financial pressure and quarter believes they will not start saving again, a survey by moneysupermarket.com has found.

The poll also reveals that of the percentage of people not saving, two fifths have never saved at all. In addition, the average age savers begin to save is currently 25.

The level of financial worry for some is shown by 64 per cent of people who have never saved saying they didn’t know when, if ever, they would be able to start.

Kevin Mountford, head of banking at moneysupermarket.com, said: “It comes as no surprise that with the rising cost of living, large numbers of people feel they have no cash to put aside at the moment. However we really do need to see an attitudinal shift among UK consumers and see regular saving become part of everyday household budgeting.”