Saving as simple as skipping a sandwich, says money group

Some seven out of ten people save five per cent of their salaries each month, or around £3.19 each day - the cost of an "up-market sandwich", according to Fool.co.uk.

Their research into saving habits, which encompassed 1,500 of the company's readership, found that one in seven reckoned their finances had "good money months" throughout the year.

And although December and January were revealed to be the most strenuous months for personal finance, 14 per cent of those questioned said their savings could deal with a 'bombshell' like Christmas.

"Unexpected events can stretch even the best-intentioned budget to breaking point. Consequently, it is vital for people to provide adequate slack in their budgets," said David Kuo, head of personal finance for the body.

Still, the amount of personal debt in the UK totalled £1.25 trillion in November 2006, statistics from charity Credit Action revealed.

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