Savers rainy day funds fall short by £8,000 as household incomes drop during pandemic
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dailyrecord.co.uksavers are facing an £8,000 shortfall between the average amount they would like to have in their ‘rainy day’ fund and what they have actually put away.
On average, people would like to have £12,500 put away in a pot that could be used for a financial emergency, money app Yolt said.
But in reality, the average amount savers across the UK had put away was £4,500. Yolt's research of more than 2,000 people across the UK also suggests that financial shocks in the last year, such as pay decreases during the coronavirus pandemic, wiped an average of £6,000 off people's annual household incomes.
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