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Britain a &#39can&#39t save, won&#39t save&#39 society – IFA Promotion

Two thirds of people claim they can&#39t afford to save more, but spend at least £54 billion a year on unnecessary luxuries, according to research by IFA Promotion.

The survey shows 13 million people claim they can&#39t afford to save anything over 3 million of these non-savers are finding ways to keep buying unaffordable luxuries, mostly by taking on extra debt.

David Elms, Chief Executive of IFA Promotion, says, “We&#39ve become a &#39can&#39t save, won&#39t save&#39 society, where luxuries are the &#39new needs&#39 and millions of us have lost the basic ability to budget. Most of us claim we can&#39t save, but continue to spend thousands of pounds a year on luxury goods and services. People need to retake control of their spending and borrowing, and start saving more for their future.”

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