A number of people have saved less of their money in recent times because they have been paying down their debts, according to new research.
Figures published by Scottish Widows have suggested that 36 per cent of those surveyed as part of the firm's Savings and Investments Report are in this position, which might include those looking to manage credit card debt.
Meanwhile, 67 per cent of respondents have simply not had a large enough amount of money available to actually save cash.
Scottish Widows' savings expert Iain McGowan feels that there is still a lot of work to be done in order to encourage consumers to save more of their money.
"While it is encouraging that many people have met or exceeded their savings goals, the proportion of people saving nothing has doubled from the previous year," he commented.
Earlier this week, his firm also revealed that 11 hours are spent on average by people fretting about their financial situation.
Posted by Martin Peacock.
