One in 10 Britons have no savings, UK financial regulator says

Millions of people are walking a financial tightrope, with one in 10 UK adults saving no money at all, a major report has concluded.

This leaves many exposed to economic shocks and vulnerable to rising bills, according to the Financial Conduct Authority’s (FCA) Financial Lives survey.

Moreover, anxiety and stress levels were relatively high, particularly among those burdened by debt.

But the regulator said the situation had not worsened since the start of the cost of living squeeze and free help was available for those facing trouble.

The FCA’s Financial Lives survey is a benchmark for the state of the nation’s finances, with nearly 18,000 people questioned about how…