‘Saving money is pointless’

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A quarter of British people say their savings pots shrank in 2016, while just a third found it possible to increase their savings. That’s according to research from Munnypot, which also found that many people feel there is very little point to putting money aside.

The situation is even worse for low-income households. New data from the StepChange Debt Charity reveals that 29 per cent of British adults say that in the last 12 months they simply had no spare money with which to make savings, and 45 per cent of people earning less than £20,000 said they were unable to save in any of the last 12 months.

Source: Independent

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