Bank manager not seen by Brits in over ten years
December 7, 2007 by admin
Filed under News, News-Banking
Over half of Brits have confessed they have not seen their bank manager in more than a decade, according to new research from Lloyds TSB. 
The survey showed that one in ten respondents were too embarrassed to discuss money matters.
Another one in ten did not think their financial aspirations would be taken seriously while a third were put off discussing their money concerns by a fear of financial jargon.
Liz Hogbin, director of savings and investments at Lloyds TSB, said: “We service our cars, have regular hair cuts and visit the doctor if we have any health concerns but many of us admit that we don’t take such good care of our finances.”
She added that a regular financial health check could put minds at rest and ensure consumers made the most of their money.
Just over a third of respondents had paid a visit to their bank manager in the last two years despite over half of them recognising that their financial situations had changed in that time.
Research was conducted by Ciao among 1,024 consumers between 16th and 24th November 2007.
Parents turn to kids for cash
March 15, 2007 by admin
Filed under News, News-Banking
It used to be the case that children went to the bank of mum and dad to help them out of sticky financial situations.
However, new research suggests that the trend is reversing, with mum and dad now beginning to turn to the bank of son and daughter in order to live comfortably during retirement.
Yorkshire Bank looked into the financial relationship between children and their parents and found that 27 per cent of people with children are hoping that their offspring will help them out when they retire if need be.
That would seem to be likely considering that 40 per cent of those asked said that they have no real savings for when they retire.
A total of 60 per cent of these people say that they know they should be saving but just cannot afford to as the cost of living continues to rise.
“By not saving for the future, parents appear to be aware they’re storing up hardship for themselves,” commented Gary Lumby, head of retail at Yorkshire Bank.
“Many are already presuming their children… might be the answer to all their financial problems. However, the easiest solution is to start saving now.”
Mr Lumby went on to say that people approaching their 30s should be thinking about putting ten per cent of their income into a pension so that they can live comfortably in retirement.
