The Post Office might lose that cheque in the mail, but it knows the value of money. And 23.7 per cent of us know that value of a survey.

Post Office research found that one in four people does save but not regularly. And one in four fails to save any money at all.

And of those that do save, most use it not for a rainy but to avoid one - they use the cash for a holiday.

Worrying?

Possibly.

Office for National Statistics figures released in June showed Britons were saving proportionately less of their income than at any time for 50 years.

But why save? Interst rates are low, designed to encourage spending. The rewards for saving are no short-term gains. And liquid cash in the economy has kept the high street booming.

The trouble comes when we stop working and keep spending.

BBC economics editor Evan Davis says: "In absolute terms, as we get richer we save more but our expectations rise, so in order to have pensions of 21st Century levels we probably need to be saving more than 2% of our disposable incomes."

Can you manage that? Or will you be happy to live for today and worry about reduced living standards later?

Jam today...

via [BBC]

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