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Almost a third of Brits are overspending and run the risk of falling into debt, new research shows.

Despite the current economic climate, many have yet to create a savings’ cushion, although Britons on average saved £86.35 each month over the last year, according to figures released by National Savings and Investments (NS&I).

The number of people who save money regularly each month remained stagnant throughout 2008 at 47 per cent of the population.

Dax Harkins, senior savings strategist, NS&I said: "During 2008 and into 2009, the main reason the population was saving was to help them cope in case of an unexpected emergency.

"It is clear that people are aware of the need to save more in these uncertain times and it is encouraging that, despite additional pressures on incomes, the average value of people's total savings was £17,443."

But six per cent of people admitted to not setting money aside and 13 per cent said they have no savings at all. A further 38 per cent said they did not expect to be able to save in the next year.

Tim Mack, senior savings spokesperson from NS&I said half of people are saving regularly or have even increased the amount they save, while the other half aren't saving at all or falling short of their savings goals.

"I think the most important thing to do when you're saving is to agree on what your saving for and to set priorities and create a budget," he said.

Kevin Mountford, head of savings and current accounts at moneysupermarket.com, said although saving is difficult in this low interest rate market, there are still choices for every kind of saver, whether they have a small amount to save each month or a large lump sum.

"I think there’s a need to educate people about the different kinds of savings options available to them," he said

"People need to realise there are different savings products out there to meet different needs."

Mr Mountford also said that the government, long focused on borrowers, should do more to encourage people to save, including increasing the ISA allowance and reducing the tax on savings' interest earned.