Half the population (50%) have less than two months' income in savings – that was £4,308 based on average UK full time earnings - and only 16% of the population have more than four months' worth.
The figures were reported from the latest Lloyds Bank Savings Index. It stated that 35% of people had less than £2,154, or one months' income saved.

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Just under a third said they couldn't save due to a lack of spare money, yet despite this figure being the main reason for not saving, it has reduced significantly in the past year. In Q3 2013 this figure was 11 percentage points higher at 43%.
The number of people who have been able to save remained stable from previous quarters, with 26% stating they were able to save regularly throughout the year. Just under a third of people (30%) haven't been able to save at all, however.
Philip Robinson, Lloyds Bank savings director, said: "Although confidence in the economy is improving, one in three of us still have less than a months' income in savings.
"People do recognise the importance of saving and if they are able to get in the habit of putting away small amounts each month, the rainy day savings pot will grow as their circumstances improve."
Attitudes towards savings remain similar to previous quarters, with 86% agreeing that it's important to save regularly.
Some 84% would rather pay off debt before they start to save, with this figure being stable over the past year.
Two thirds expected to save more over the next 12 months - up 2 percentage points on a year earlier. Just under a quarter (24%) think they will save less in the next 12 months or stop saving altogether.

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