- Friday, 19 March 2010Two thirds of British people spend time worrying about their financial affairs, a study by Scottish Widows has shown. It is possible that
IVA help and
debt management information could ease their concerns.
According to the research, those Brits who do spend time worrying about money do so for an average of 11 hours a week. Extrapolated across a year, this represents 24 full days.
It is younger people, those aged between 18 and 34, who spend most time worrying about money at 13 hours a week. This decreases to nine hours among those older than 55.
Iain McGowan, savings expert for Scottish Widows, was shocked by the results of the study.
"It's incredible that Brits spend so much of their time worrying about their finances," he said.
A personal finance journalist, Rosanna Spero, believes that it is important that people become better educated on financial issues.
"As a nation it seems we're simply not that confident when faced with issues such as financial products, as well as our understanding of the current economic situation," she said.
People must become better informed on
bankruptcy,
IVAs and
debt management, for example, to increase wider comprehension of financial issues, it would seem.
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