PA
11 December 2012
Paying household bills is the most common reason why people eat into their savings, according to a new survey.
A poll by finance firm ING Direct showed that more than two out five used savings to meet everyday household running costs.
The figure has increased every year since the study started in 2009, when a third of those questioned said they spent savings on bills.
The report warned that the situation will get worse following announcements of big increases in energy bills next year.
Richard Doe, chief executive of ING Direct, said: "British households are still facing financial pressure from rising living costs, which is evidenced by the fact that more people draw on savings to pay their bills than for any other reason."
