A new survey has found that saving for emergencies is the most popular reason why working age households are putting money away in 2021.
Scottish Widows said around one in three (34%) adults surveyed between January and March were saving for emergencies or a "rainy day" when the money might be needed amid the ongoing economic uncertainty caused by the coronavirus pandemic.
The research by the life insurance and pensions experts also discovered that holidays and travelling were the next most popular reason for saving at the start of this year, with 29 per cent saying they were putting money away for a future booking.
And with people having spent more time at home, 22 per cent said they were saving for home improvements.
Some 20 per cent were putting money away for their retirement, and the same proportion were saving to buy a property.
However, with many people's incomes having taken a hit during the pandemic, one in five households said they were not saving any money during the first three months of 2021.
Some 4,500 people aged 18 to 64 across the UK were surveyed.
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