ONE in three Scots would be unable to survive on their savings for longer than a month if they were to become unemployed, according to a new study.
Analysis by YouGov suggests that 30% of those in work would struggle if they were to lose their job, an increase of 2% on last year. More than half (57%) said they would survive for less than six months.
The west of Scotland was found to be the region with the highest number of people saying they wouldn’t last a month.
However the findings found that more Scots are saving regularly, most of all young people.
Of those surveyed, 78% of 18-to-24-year-olds said they were putting money away. The figure was 65% for over-55s.
Ricky Diggins, network director of Bank of Scotland, said: “It’s reassuring that more Scots are getting into the savings habit.
“These funds provide a vital safety net should there be a sudden change in personal circumstances.”
The research involved 3039 interviews.
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