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Brits are fretting about their finances

September 4, 2007 by admin  
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People in the UK are deeply concerned about their finances, a new study has shown.

Research from Alliance & Leicester indicates that 3.4 million Britons consider their finances to be their biggest worry – with 18 per cent fretting about cash on a daily basis.

Despite this, around half of those questioned admitted that they had not thought about whether changing their bank would provide them with a better deal.

Perhaps unsurprisingly, the study revealed that Brits tend to worry more about their cash at certain times of the year. Half said Christmas was a stressful time financially and 40 per cent admitted to thinking about their finances before a holiday.

“Money is obviously a topic at the forefront of most people’s minds,” explained Andy Bayes, head of current accounts at Alliance & Leicester.

“Regardless of whether money worries stem from managing day to day finances or finding the money in the run up to special times of the year, it’s crucial people check that their is working hard for them.

“Considering the time people spend worrying about money, and the lengths some will go to find more, it’s surprising to see that so many customers still remain faithful to the same bank they have been with for years, which pays very little in credit interest.”

Research from Lloyds TSB indicates that 36 per cent of people from the UK plan to sort their finances out this autumn.

Tags: credit interest, biggest worry, bank account, britons, christmas, half, plan

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