6 in 10 workers do not have enough savings to meet unexpected bills

Six in 10 workers do not have enough savings to meet unexpected bills, a survey suggests.

Some 60% of people say they often face problems paying surprise costs like car repairs or boiler breakdowns, research from Yorkshire Building Society and Salary Finance found.

Unexpected costs can include things like medical bills, vets bills, technical difficulties, car troubles, home repairs, higher than expected household bills, work-related costs, and insurance premiums.

More than 16m people in the UK have savings of less than £100, a study by the Money Advice Service (MAS) has found. So, sudden unexpected costs can have a real negative impact on many people.

Millennials aged 25 to 34 were particularly likely to be caught short of cash, with 69% saying they regularly suffered a shortfall.

The research surveyed more than 10,000 employees from across the UK about their relationship with money.