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British people are exceed 7,000 pounds short of “financial security”, with a total gap of 371 billion pounds

“Financial Security” British agencies shows that although some Britons are saving more money during the coronavirus epidemic, they are still more than £7,000 away from “financial security”.

The British people’s current savings level is a total of £371 billion away from the amount they need to obtain a “financial security”, the BBC reported on August 31.

After surveying 2,000 people, the Yorkshire Housing Union concluded that British adults need to save about 17,500 pounds (155,000 yuan) to feel financially secure. To achieve this goal, there is an average financial gap of 7,220 pounds (64,000 yuan) per person.

The above report was jointly written by the Yorkshire Housing Association and the Center for Economics and Business Research.

The report wrote that the savings of the British people have increased by 190 billion pounds in the past 18 months.

UK Financial Security

Due to epidemic prevention measures such as stay-at-home orders implemented during the coronavirus epidemic, people’s daily expenses have decreased and the money available to save has increased.

However, Nytish Patel, a Yorkshire Housing Mutual strategist, said that despite the gradual recovery of the economy, “we should remember that the epidemic has made some people’s financially vulnerable“.

Measures the ability of residents in different cities and regions to resist financial risks. Residents in the North East are the weakest financially resilient to risk, scoring 40 out of 100, residents in the East of England are the strongest in this regard, scoring 61.

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