One in three people in the UK are failing to save any money, which may not come as a surprise to those experiencing large bank charges.The fifth Savings and Investment report from financial provider Scottish Widows has revealed that 18 million people in the UK do not save anything, which represents an increase of 16 per cent compared to 2009.Ian McGowan, head of Savings and Investments at Scottish Widows, said: "It is unsurprising that the financial crisis has impacted upon people's savings behaviours, but the concern is that this has created a generation of people who simply do not save."It is vital that this new group of non-savers are made aware of the serious impact that this could have on their quality of life."Findings also reveal that most middle income consumers consider living costs to be the main reason for not putting funds aside.The research suggests that the average age of first time buyers could rise from 30 to 44.Charles BakerCharles is a reputed financial analyst with almost decades of experience under his belt.
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