70% of UK adults have no financial plan in place should they lose their job. In fact, 1 in 6 has no savings put away at all.
Our survey of 2,000 adults found that even those who do have money put away fear that it would only last them a short while, with a staggering 12% fearing it would only last them a week without any other income.
Nearly half of the respondents claimed that they would seek temporary work if faced with the prospect of losing their regular income. 48% would start selling possessions while 21% would dip into their overdraft.
Perhaps more worrying was the revelation that many would consider taking out a loan or max the credit cards despite having no funds to pay it back.
Despite these worrying worst case scenarios, the survey found that the average person has £3,769.92 put aside for a rainy day with a holiday, socialising and DIY given as uses for the cash.
Two-thirds wish they could save more to ensure they have a bright future ahead of them, yet 33% claim they live hand to mouth each month. Alarmingly a fifth say they exhaust their wages mid-way through the month.
The story was featured on Yahoo Finance.
