Compare Prepaid Cards to Help Fund your Future
Saving for the future is a luxury many cannot afford new research reveals as the nation struggles to make ends meet in the current economic climate.
A study by YouGov carried out for Financial Planning Week showed more than half of British adults do not feel confident about achieving their financial plans for the future due to inflation and interest rate rises set for 2011.
Women were found to be less confident than men as 57 percent said they were not that confident or not at all confident in their outlook for next year, compared to 46 percent of men.
The Institute of Financial Planning (IFP) showed through their latest campaign that age and marital status was a factor which contributed to people’s level of confidence.
Only 35 percent of the 18-34 year olds were not confident compared to 63 percent of those aged 45-54 years old.
“This age group are having to consider supporting children into their twenties and ageing parents who are now living longer,” said Nick Cann, CEO of IFP.
A huge 69 percent of those who are separated or divorced said they were not confident about their future financial situation compared to 52 percent who were married in the survey of 2196 people.
“There is a real need for education about the real value of money,” added Alan Dick, CFPCM of Forty Two Wealth Management, Glasgow.
“Inflation can be a very real problem as the cost of just living their life continues to rise faster than their income.
“In effect the pound in their pocket buys less with every year that passes.”
Save with a Prepaid Card
To stay on top of your finances so you are able to put aside some money each month for the future try using a prepaid credit card.
You can load the money you have budgeted to spend on your everyday necessities onto the card which does not allow you to spend over this. The money you have set aside to save is safe from you unknowingly dipping into it.