A recent survey has revealed that more than one fifth of the people in UK do not have any saving, with only 35% of them possessing less than £500 each as savings.

On an encouraging note, the study explained, the number of people adopting measures of savings has reached 47%, growing from 40% in August 2009.

The study claims that 70% have expressed their intentions of getting started with the savings in the upcoming 6 months.

However, the analysts have raised their concerns over the rest of the 21% people who have no savings till date and have not shown any interest in the direction.

According to the study, only 36% of the Britons have their savings between £500 and £10,000 while 29% have savings off the £10,000 mark. Only 12% of the total population has reported to have savings and investments worth £50,000 and above.

Toby Clark, Head of UK finance at Mintel said that the sloth in the economic growth has probably stimulated the minds of the people, encouraging them to start with the savings.

"Huge uncertainty surrounds the outlook of 2010, making saving and debt repayment more popular than spending", he said.