BANK ACCOUNTS, CREDIT CARDS
Personal finance crisis prevents Brits from being happy
Brits are giving up on the ‘fun’ things in life as the turmoil over their personal finances show no signs of abating.
Nearly half of the nation is struggling to find time to have fun, as purse strings are tightened amid the dreary state of the UK economy.
Research from Scottish Widows found that 70% of Brits struggle to devote time to life’s priorities, with a staggering 14.2 million people neglecting their home life.
The stark findings reveal a dark insight into the effect the economic crisis is having on family life. The number of people who are finding it hard to devote time to things they enjoy has increased. Brits are now spending even less time on their health, wealth and happiness than in previous years.
As the economy worsens, Brits can expect to spend less time doing what they enjoy. The number one priority that is most likely to suffer is having fun, with 45% of people claiming they do not enjoy themselves as much as they would like.
Catherine Stewart, savings expert at Scottish Widows commented; "The economic situation is not getting any easier; in fact it would appear that life priorities are suffering, which is forcing people to neglect their health, wealth, and happiness.”
"Taking control of your life and making an effort to reassess your priorities may seem an impossible task to many, but often one small change can have a positive domino effect and make a huge difference.”
Stewart also argued that consumers should analyse their weekly budgets to identify where savings can be made.
The Scottish Widows Priorities of Life Index found that 14.2 million people feel they’re neglecting their home life. This is a 1.5 million increase compared to the same figure last year.
With millions suffering pay freezes, wage cuts and even job losses against the high cost of living, it comes as no surprise that financial priorities will suffer. The report found that 21% of people believe they have too much debt. It could be worth taking out a bank account to save much needed cash.
Tags: compare credit cards, CREDIT CARDS, life’s priorities, money problems