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One in four can't afford a plumber

One in four households could not afford to pay a plumber should the need arise, according to a new report.

When it comes to paying for a household emergency, such as repairing a boiler or replacing a faulty washing machine, people are having to fall back on options such as selling something, or borrowing from a friend or relative.

The old adage of putting some money in a jar for a rainy day is now a thing of the past, with only 21% of us saving regularly and the majority (52%) say that they could afford no more than £500 if an emergency arose, according to research from Alliance & Leicester Savings.

Worryingly, one in eight (12%) said they don't even know how they would cover the cost of something breaking down.

With the cost of a new washing machine coming in at around £200, and the average basic plumber's call out fee of around £70, it is concerning to see that a quarter (25%) said they would struggle to pay out for something that cost more than a mere £100. Less than 28% would be able to cover a bill for something major (such as a new boiler) that would cost in excess of £1,000.

Only 21% of those surveyed said they had money put aside solely in case of emergency and more than a third (37%) said that they hadn't been able to replace household appliances like the cooker in the past, because of cash flow problems.

The research found that women are the least prepared for a basic household emergency, with more than a third (35%) saying that they have struggled to pay for emergencies in the past, compared to a quarter (26%) of men. Furthermore, just under half of all women (46%) admitted to having less than £200 spare to cover the cost of a household breakdown, compared to 28% of men.

Mike Woodward, manager for savings at Alliance & Leicester commented: "It is pretty shocking to discover that so many people are adopting a 'head in the sand' approach to the possibility of having to fork out for unexpected household expenses, especially when almost a third admit to having struggled to pay for household emergencies in the past."

"Simply setting up a standing order for a small amount to be put aside each month is very easy and means you'll have the peace of mind to know that should something go wrong, you've got an emergency fund to call upon."

The survey also revealed that two thirds (64%) of Britons have savings of some kind, with more than a third (35%) keeping their nest egg topped up.

Woodward continued: "While it is worrying that so many of us seem to be financially unprepared for an emergency, our research did discover that out of those more savvy, who are putting money aside, almost half (44%) are doing so just for security."