Families in the UK are being warned of an alarming £5,000 shortfall in emergency funds going into the winter months.

Finance experts recommend having an emergency pot worth the same as at least three months of take-home pay, which is just over £7,000 based on the average salary.

But research from BOXT has found the average family has just £1,983 saved up for any sudden repairs or costs, which is more than £5,000 less than the ideal figure.

A third of adults have less than £200 in emergency…