UK - 35 million 'worried about their finances'
3 October 2011
Financial advice website unbiased.co.uk reports that 72% of British adults are worried about their finances. Its online poll found that the most common concerns are about personal savings and pensions.
Of the 72% who are concerned about their money, 39% are concerned about their savings - or lack of them. This is the biggest concern for 18-34 year olds and those aged 55 and over. Having savings to fall back on is one of the best ways to avoid taking on debt.
Pension planning and provision worries 29% of those with money concerns. It appears to be the biggest concern for 35-54 year olds, 38% of whom are worried about it.
A great way to deal with money worries is to tackle them head-on. Of the people who were worried about their money, but had also taken action to deal with it, 22% started saving, 20% changed the way they invested and saved, 13% made low-tax investments in things like ISAs and 8% began making contributions to their company pension.
Debt management company Gregory Pennington commented: "Anyone worried about their lack of savings should look into opening a savings account if possible, as savings work as an excellent buffer against debt. A change in circumstances can often lead to debt when there are no savings to fall back on.
"But those who simply can't afford to save because of debt may benefit from professional debt advice."
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