As a result of the credit crunch, 27 per cent of Brits have had to dip into their savings, whether it is to pay for a holiday or keep up with home insurance payments.
Research conducted by Fairinvestment.co.uk discovered that 18 per cent of people with savings have used up ten per cent of their stash since the credit crunch began.
A further seven per cent claim they have used between 11 and 20 per cent of their savings while five per cent have used up to 30 per cent of their hoard.
Sharon Bratley, chartered financial planner at Fairinvestment.co.uk, said the results of the survey were "unsurprising".
"The cost of living is going up, and so is the number of job losses, leaving Brits vulnerable and dependent on back up like savings," she explained.
A study conducted by cahoot recently found that many people are trying to save themselves some money by making their homes more energy efficient.
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