Cost of living stops households saving

THE rising cost of living over the past year has left an additional 1.3 million households "struggling to make ends meet" with no money after they have paid their bills.

About 12 million of the UK's 21 million households spend all their money on bills and debt payments, up from 10.7 million nine months ago, according to a MoneyMood survey by Legal & General. It means that 57 per cent of households can not afford to save compared with 51 per cent in September.