Two Months Emergency Money
Published / Last Updated on 09/09/2008
Two Months Emergency Money
According to a report by the Yorkshire Building Society, the savings of an average Briton would only keep them going for 52 days if they were unable to work. The research found that women on average, survive only 46 days while men would be financially afloat for 63 days. This included average monthly essential outgoings such as food, accommodation and utilities, debt repayments and luxury expenditure.
The 20-page report concluded that is “paints an alarming picture” as 9 in 10 people have no income protection cover. There is a greater chance you will suffer a serious illness or disability during your working life than death. It is of paramount importance that you have enough financial protection such as sickness and redundancy insurance to ensure you can pay your bills and maintain your lifestyle if you are too ill to work.
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