Saturday 7 January 2017

Millions Of Britons Are Worried About Money And Here Is Why


The scale of the problem was revealed in the latest annual MoneySuperMarket insight into the nation’s finances.

In an online survey of 2,000 UK adults, 20 per cent said money worries had an impact on their health.

A further 17 per cent admitted the relationship with their partner suffered, while eight per cent said another area of their life had been affected.

An increase in consumer borrowing at the fastest rate in more than 11 years in the run-up to Christmas has worried debt charities.

However, financial experts warned that rising inflation in the months ahead could put extra pressure on already strapped budgets.


Kevin Pratt, consumer affairs specialist at MoneySuperMarket, said: “Many pundits expect inflation to rise in 2017, perhaps as high as four per cent, so this new year is definitely a good time to review your finances.

“Simply making sure you’re not overpaying on bills like energy or insurance can make a big difference, while switching your credit card could help you save money on interest payments.”

The younger generation worries more about money, with 58 per cent of 18 to 34-year-olds stating they frequently or occasionally worry about the state of their finances, compared with 30 per cent of the over-55s.

*** Make Yourself Debt Free In 2017

Women feel the strain more, with 51 per cent admitting they are concerned about money compared with 40 per cent of men.

Forty-one per cent of UK adults believe their financial anxiety will increase in 2017, with 17 per cent citing the rising cost of living as the main reason.



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