Number of regular savers drops to 39%

MORE people are saying that they are unable to save money with half of consumers saying they would use any spare cash to pay off debts.

There has been a decrease in those saving regularly, down to 39% in June from 42% last year, with the latest Nationwide UK (Ireland)/ESRI savings index points out reflects the fact that there are people who simply cannot afford to save at present.

More than a quarter of people who are saving are putting away up to €50 per month while 4% are saving more than €500 a month.