UK consumers 'living on the edge financially'

People in the UK are currently walking a financial tightrope, it has been claimed.

The average monthly outgoings in the UK currently stand at £1,445, while the typical amount of accessible savings accrued is £2,474, according to Yorkshire Building Society.

It added that the average Briton would only last around 52 days on their accessible savings.

Furthermore, the typical self-employed worker would last the least amount of time on money they have put away - 51 days - while a widow would last 120 days.

"The research reveals that both state benefits and savings are not viable options for the majority of consumers to rely upon for an adequate length of time," said Tanya Jackson, corporate affairs manager for the bank.

Meanwhile, money charity Credit Action has revealed that people in the UK currently have a combined personal debt mountain of £1.4 trillion.

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