Britons burying their head in the sand over money - Money - News - Moneyfacts

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Britons burying their head in the sand over money

Britons burying their head in the sand over money

Category: Money

Updated: 29/04/2010
First Published: 29/04/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Money worries continue to plague Britons, despite figures showing that the UK has emerged from the recession.

While the country has returned to weak growth, research conducted by Scottish Widows has found that many people are feeling insecure because of a lack of time and money to focus on their financial futures.

More than a third (36%) of people said they are not prioritising their financial security enough, while 39% said that they had put their commitment to saving on the back burner.

Of those not prioritising putting money aside, most (58%) said that they couldn't currently afford to save as much as they wished, with a third of people saying that their primary focus was on taking care of their short term finances.

"Our financial security, savings and jobs are suffering as we struggle to prioritise what really matters when it comes to financial stability," said Alison Morris, savings expert at Scottish Widows.

"We all know how important it is to save and make time to look after monetary concerns, but a third of all of us admit our financial security or savings are not being prioritised nearly enough."

More than a fifth of people admitted that when it came to their finances, they were guilty of burying their head in the sand, saying they tried not to think of their money issues on more than a day-to-day basis.

People are being encouraged to make a concerted effort to put even just a small amount each side from their wage packets.

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