How is your savings?

A study found that many British residents couldn’t survive much more than a week without pay:

The bank has found that 30% of adults have less than £249 [$400] set aside as a financial safety net: 11% have some savings but less than £249, while 19% have no savings at all.

Apparently £249 is the equivalent of five days’ average take-home pay, though the recommended minimum safety net is three months’ pay, which based on the average would be £4,683 [$7,500].

The blog posts lists this among the action to take: “Ignore Charlie Bean, deputy governor of the Bank of England, who wants people to go out shopping to save the economy. That’s his job, not yours.”