Having previously worked as a Financial Advisor I haver experienced varying attitudes from Joe Public. Firstly, we live in a society where people just live for today. They are rarely prepared to make the necessary sacrifices in order to save for retirement. In the past people saved on very low incomes. They were better at making astute choices. Nowadays, people want to spend large amounts of money eating out, new cars, etc and then say they can't afford anything. They can but don't want to.
Richard C, UK

People feel they need to keep up with the "Joneses". It's a way of life that people want all the latest things to keep up with pals.
Richard Welsh, England

I can't actually save because I'm too busy paying for the house I live in. Houses are just too expensive in London to allow for anything else!
Robin, UK

All of the money advice shows on TV and radio stress the same thing - list all of your monthly outgoings (even if they are quarterly like TV licence payments)and budget accordingly. They also recommend people to 'pay themselves first' by setting up a regular monthly transfer to a savings account once they have received their salary credit. This seems such a straightforward process - handling debt through having no savings is such a stressful process - yet it seems millions of British people are willing to go through it. I despair!
Chris Nolan, UK

I would love to be able to save for the future, especially with the current uncertainty of future pensions for my generation. However, when the interest rate is a miserly 4% (a little above inflation) and stock markets are plummeting what is the point? Furthermore its becoming virtually impossible to find an affordable house to buy because of the interest rates, so there goes the chance of another future investment. We were once told that saving is a virtue, but its not worth it, spend and enjoy now and then let the state worry about me in 40 years time.
Matthew Child, UK

Where is the incentive to save when the interest rate is so low?
emerald mosley, UK

This poll shows the dangers of living for today and ignoring the future. I strongly believe that the basics of Finance should be taught to schoolchildren to help them better manage their financial future.
Celine, U.K.

The cost of living in England is high compared to europe. No wonder people can't afford to save. This should send a worrying message to the government that the current economic boom is not built on anything substantial and that individuals are going to end up in real financial trouble if the economy slips.
David, England

I save both in cash and equities, but I will not under any circumstances put money into a pension unless I am forced to do so, and will then put in the minimum amount I can. I object strongly to the fact that the Government dictates what I do with my own money when a pension matures, and also that the pension dies with me and I cannot pass any of this on to my heirs.
Kate Corwyn, UK

I have been living and working in Paris for the past 13 months as a placement student and I have managed to put away ¿80 (£50) a month since I started. I now have a nice lump sum to come home with. I like the feeling I get from knowing I am financially secure. I intend to start a pension as soon as I graduate and get full time employment.
Fiona Roberts, England

We have only a small mortgage so I do manage to save some money each month. I suspect that high property prices, and hence large interest payments on mortgages, are one reason why many people find it difficult to save. And how is anyone to invest 30% of their income (as suggested) in a pension when property is so expensive?
Trevor Barker, England

I always put some money away each month, although the temptations are always there to spend it just because I've got it. Personally I don't feel the need to impress strangers with the newest car or the latest fashions, so I avoid a lot of the biggest bills. Even so, I still find some hobbies can run up big bills!
John B, UK

I had stock market investments in the telecoms sector which cost me around £8,000 in 2000. Now they're worth £500. I've got a pension with Equitable Life - virtually worthless. So what's the point in investing for the future. I sold all my endowment policies as endowment returns are shrinking too.
Paul Lanchester, UK

Well, I do try to save a little bit but the money I'm saving now is for a mortgage deposit. Well, with the housing market the way it is and interest rates so low, I'm very tempted to draw all my money out and buy something with it! Socialising is more important to me than saving for definite, but I spend most of my spare cash on music and audio paraphernalia, as I feel holidays are a waste of money compared to objects I can touch and see whenever I like. Based on the ammount I earn and the cost of rent, I can't save anywhere near as much as I'd like to whilst still maintaining a decent standard of living; I suspect this is the same for most people when it comes down to it.
Dom, UK

There's not much point in saving right now. After tax and inflation, regular "safe" investments are running at a loss. No need to comment on riskier investments right now; totally worthless. The only sensible financial strategy for the present is debt reduction. But if you are debt-free, you might as well spend it rather than save it.
Neil Cave, UK

People who do not have their parents to help them suffer the most. If you have to get yourself into debt to buy your house, pay all the household bills, student loans and buy furniture, how can we afford to save at the same time?
Paul Bell, England

I blame the 80's Loadamoney culture, which has taught the younger generations that its cool to project an image of having plenty of cash to blow on things they want when they want. The art of saving is often seen as a sad pasttime for the over 50's. I am actively reducing my dependancy on the dreaded Credit Card, which in turn is allowing me to put some money away each month. I see saving as vital to ensuring my familys financial wellbeing, and believe that practical financial management courses should be added to the secondary school curriculum ASAP.
Ian Knight, England

Two years ago, my goal was to save as much was feasible and this equated to 10%. I have had no pay rises in this time. Also taxation has gone up. In fact my company has taken 10% away from our pay in the past year. Add to this, that my wife has given up work to look after our 1 1/4 year old. So from a 10% saving rate, I am now in a 5% deficit rate per month, and this will get worse next year.... with NI increases. This means I will be in debt in another 6 months after spending all my savings to just stand still. The downturn in the economy is the reason for this, and this is exactly how it was in the early 90's.....
chris, UK

Spending is easy, saving is hard, people are weak.
Tony Brooks, UK

We work the most hours in Europe, so no wonder people feel the need to socialise and spend their hard earned cash.
Chris Ward, England

I'm 27, a Pakistani and working in the City. I have 50K saving in a bank account, (savings), about 6K in my current account, 7K in ISAs and about 10K invested in a business. Does that mean I'm not part of the "norm" for british young? I have a wife and child and will do whatever it takes to give them a good life. I left school with 0 GCSEs and then went to college; and finally on to University (2:1 Bsc computing). Anyone can save, it depends if you want to. I believe that at my age lots of people ain't even married, let alone have kids, and that's why they think there is no REASON to save. My PC has a bitmap of my son, and every time I see the wallpaper I remember why I am working in London for 5 days and commuting back to see them on the weekends (they are not moving to london to keep costs down, and they don't want to)...
Not saying, UK

British people don't accumulate cash but it is wrong to say they don't save. Housing is seen as as a surrogate method of saving for the future. It is an investment that many are prepared gamble on big time with huge mortgages for the same old pile of bricks. What we are about to find out is whether or not this behaviour has irreversibly turned housing into just another commodity, which can loose value in as big and as fast a way as it can gain in value.
Christopher Moore, United Kingdom

I've been trying to save money for years and I will always need to spend it by the end of the month, since I started working I have never had any money left even a week before payday. going out socialising is far more important when you're 23
Paul Hayes, London England

I'd like to save money, but I'm still broke after finishing university 3 years ago. I've just paid off a 5k graduate loan, paying off student loans and trying to pay off my overdraught that's at an extortionate rate. I now have my own pension at £80/ month. The couple of hundred pound left after the rent, debt and pension I may as well spend on having some fun. The situation for 20 somethings is pretty naff. No wonder youngsters want to leave the country.
Richard, UK

After my last pay rise, I was finally in a position (aged 32) to start saving for a deposit on a house. However, since I can't save fast enough to keep up with rising house prices, I've decided I'm better off just spending the spare money.
Francis, UK

I'm originaly from Glasgow. I now teach in South Korea. I'm not coming back to the UK for a long time because I pay about 1% income tax here. I can sock away 50-75% of my earnings. You want to know where people's money goes? Ask Mr. Blair!
Mark Wingate, South Korea

The 25-34 year olds who are spending all their money on going out will be clamouring for a government state pension handout when they reach 65. The Government should give tax breaks to savers and make it absolutely clear that there will be no bail-out to those too hedonistic to save for their old age.
Andrew Gambier, UK

Since graduating I have worked abroad to build a nest egg so that when I return to the UK I'll be comfortable. Moving back to the S.E. later this year, I have had to put the lot (more than a quarter mill) into a house. The result - a mortgage payment similar to one I might have had if I lived in a cheap area in the UK. How do people without huge savings get started in the UK?
Bernard, UK living in US