Pensions

More than 16million people in Britain have less than £100 in a savings account

More than 16million working Britons have less than £100 held in accessible savings accounts.

And more than 17million do not pay off the monthly balance on their credit cards, allowing banks to pocket billions of pounds in interest.

The figures revealed in a damning official report last night paint a worrying picture of consumers spending far beyond their means.

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