Brits 'should build an emergency nest egg'

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Brits 'should build an emergency nest egg'

People working across the UK should act now to build up emergency funds, one financial expert has argued.

Yvonne Goodwin, managing director of Yvonne Goodwin Wealth Management, said it is important for people to have built up savings if they can in order to ensure they are able to continue to meet their financial responsibilities should they face an emergency situation.

She commented: "Everyone should start building their emergency fund as soon as they start working - after all, if they haven’t earned money before, then they won't miss it."

Ms Goodwin added that it is prudent for individuals to have emergency funds covering between three and six months of expenditure to tide them over in times of crisis, such as losing their job.

According to a recent survey carried out by British Insurance, up to 17 million Britons - nearly 60 per cent of workers - are currently worrying about job security.

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