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Britons are saving the lowest amount of their earnings in half a decade

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People in the UK are saving the lowest amount of money in almost fifty years, according to research from the Office of National Statistics. In the first three months of 2008 Britons saved just 1.1% of their income, compared to 3% in the winter of 2007 and 6% in the summer of 2006.  The last time people were saving this little was in 1959. Given recent increases in the cost of living, it’s hardly surprising that everybody is feeling the pinch and finding it harder to put money away for their future. With the economy looking likely to continue tanking for a long time to come, you have to wonder how people are going to cope if they’re already struggling to put aside a significant amount of money from their earnings.

If you think times are looking a little tough now, you ain’t seen nothing yet…

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