Single people best at saving, says survey

Single people are better at saving than those who live with a partner, a survey suggests.

The average person who lives on their own saved 8.68 per cent of their monthly income during the three months to the end of August, compared with the 6.92 per cent of their pay set aside by someone who was married or cohabiting.

The research, by National Savings and Investments, also found that more than half of all people were now setting aside money on a regular basis, the first time this has been the case since the winter of 2007/2008.

The amount people are saving has also reached its highest level since then at 6.98% of their pay, the equivalent of 87.37.