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Britons 'living on financial tightrope', may turn to secured loans

The average person in the UK would only be able to last on their savings for 52 days should they find themselves unable to work, according to new statistics.

Research from Yorkshire Building Society shows that a part-time self-employed worker would last 51 days on their savings - the lowest amount recorded.

Furthermore, the bank revealed that a widow would last the longest on average - 120 days.

It added that the average monthly outgoings in the UK stand at £1,445, with accessible savings at around £2,474.

People struggling to get to grips with their finances could find that a personal loan helps them with their problems.

"The research reveals that both state benefits and savings are not viable options for the majority of consumers to rely upon for an adequate length of time," said the bank's corporate affairs manager Tanya Jackson.

Meanwhile, money charity Credit Action estimates that personal debt in the UK currently totals more than £1.4 trillion.

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