Gareth Mackie, the spokesperson for the company, added that rising day-to-day living costs are generally the main pressures on savers.
"We've had the likes of council tax bills, petrol prices, things like that that are going to have to be paid day-to-day, so I guess if they're rising, then people would need to tackle those first before looking to put money aside for a rainy day," he explained.
Recent research by Sainsbury's Bank found that 43 per cent of those under 24 feel they are unable to save anything.
The same study also revealed that 41 per cent of people over 65 are also not putting any money away in savings accounts.
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