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Over 30 per cent of people in Britain do not have enough money to cover themselves in an emergency, it has been revealed.

Research by National Savings and Investments (NS&I) also found that out of the 53 per cent of people who do not regularly put money into a savings account, 21 per cent do not save at all.

As such, expensive ventures such as home improvements or holidays may have to be paid for with a loan if a household's coffers are running on empty.

Commenting on the findings, a spokesperson for NS&I says that with news about redundancies "and [when] it gets to this time of year when boilers break down and different things like that, a third of the people we talked to saying they can't even cover that is a really worrying figure".

However, secured loans could provide the financial platform to undergo such repairs, or even to cover everyday costs until the job market begins to recover.

But there is promising news, after the organisation discovered that 47 per cent of people claim that they do put money to one side on a regular basis.