Many hit hard - but 6m have saved

AN estimated six million employees across Britain have become “accidental savers” during the coronavirus pandemic, a survey suggests.

Researchers said those with extra cash windfalls now have an opportunity to put their finances on a firmer footing by reducing debt, building up a short-term savings buffer and improving pension saving.

While many household incomes have been hit hard by the pandemic, some people have seen an unexpected boost to their standard of living.

This is perhaps because their incomes have been unaffected but their outgoings, such as transport to work or spending on activities such as holidays or eating out, have been vastly reduced.

And with some people now more likely to work from home even after social distancing restrictions lift, they may find their workrelated costs are permanently reduced.