Income rich, cash poor Protection

Research1 has revealed that 23% of households with an income of £100,000 would be unable to cover a major unexpected bill or survive more than three months without their income. The same is true for over one in ten households earning over £150,000. Although high earners have more coming in each month, in turn, they tend to have more outgoings, which can make saving difficult. However, the importance of having emergency funds should not be overlooked – it is essential for improving your resilience to financial shocks.

1hl, 2021