Re: Savings
Then your outgoings must be considerably less. There is rent, council tax, high utility charges to consider. Food, which is always going up in price.
If someone doesn't have the luxury of owning their own home, say mortgage free, then they could be in dire financial straits, with high rents.
Our basic State Pension is not much more than £100 a week, with a second Pension giving probably another £30 or so. (Please correct me, those already receiving.)
With private or council rentals starting about £500 a month, that's not leaving these people with anything spare. I'm talking of people who never saved in a company's pension scheme - which fortunately I did - or woman who didn't pay in a 'full stamp' so qualified for a much reduced pension.
And then there are the poor unfortunates who've had their pension schemes plundered and ended up with nothing! Something that has happened over here.
I know that when my State Pension starts next year, together with the occupational one I get now, I can live within my means and my savings can stay for a rainy day. But they will get massively reduced before then, just on the usual bills and day to day living.
Not criticising, just saying.