In a recent survey conducted by TipTopJob.com, it was found that 40% of UK citizens could last 6 months or more on their savings if they were to lose their job. On the other hand, in the UK, the same number (40%) couldn’t last more than a month.
The findings went on to survey jobseekers and employees across the UK, USA, Australia, Canada, India and South Africa.
A huge 70% of citizens in India have less than one month’s savings. In Australia 54% could only last one month, in the USA 52%, in Canada 38% and South Africa 44%.
In India, only 10% could last more than 6 months but this was closely followed by 13% of individuals in Canada. In South Africa, 22% of people could last more than 6 months.
Across the world, with people being careful with what they are spending it is not surprising that there is not a higher % that could last more than 6 months. However, with the economic problems, in some cases maybe individuals have felt they have had to save their money in case they were to lose their job.
Mike Dauncey, comments, “A thought-provoking survey and interesting results comparing Country to Country. We will repeat this survey each year to see how the results may differ as time goes on. I am sure we will see an increase in the % of those able to last 6 months or more as time goes on.”