Savings warning as Britons change major money habits - a ‘record low’ may be ‘yet to come’

The tightening of Britons’ belts, though, leads to questions about where this money will go, whether it will benefit savers languishing in a low interest rate account, or whether individuals will feel more comfortable with spending again later down the line.

Emma Walker, Chief Marketing Officer at LifeSearch, who commissioned the study, commented on the matter.

She said: “In living memory, matters relating to our nation’s health, wealth and happiness haven’t felt so loaded or emotive.

“While the Wealth Index experienced steep falls in the last year, it hasn’t yet reached a record low.”