May 29 2008
A new report from Egg has highlighted the struggles that millions of British families are facing in their efforts to save effectively.
Research by the financial services firm found that the typical consumer in the UK pays out over £1,000 every month simply to pay off their energy bills, buy food and repay their debts.
For many people this leaves little money for saving for children or for a proverbial rainy day and Egg maintains that most Britons would be in serious financial difficulties in a short space of time if they were to lose their jobs.
An increasing number of British parents are setting money aside in an effort to secure their children's financial future but most would be unable to support their families four months after becoming unemployed, the latest figures indicate.
The Treasury's most recent data release revealed that 72 per cent of all child trust funds opened on behalf of British children are being actively engaged with by parents.
