RESEARCH from Barclays suggests that people in the North-west are not saving enough.
The bank is urging people to raise their levels of savings to ensure they can cope with periods of hardship.
It claims that individuals in the region need to increase the amount of money they have set aside by 24 per cent.
Barclays says that in the North-west, three-months' salary would be £5,122 but average savings are £4,121 -- a savings gap of £998.
Redundancies in the region have increased by 14,000 over the last year.
Anne Kenealy, Barclays Area Manager for Bolton says: "There are a few key areas that people should consider when it comes to making financial plans for the worst situation.
"First of all, try to ensure that there is enough money available if the worst happens.
"Secondly, make sure that this money is invested in the right places."
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