Concerns over Financial Security following the Recession

Published on 1 January 1970 by Raffick Marday

Millions of people feel their life priorities are being neglected due to the recession, with financial security a concern for many, a report highlights.

The recession officially ended late 2009 but the effects are still burdening the nation, with seven out of ten British adults admitting they are struggling to devote enough time to life priorities.

The Scottish Widows’ Priorities of Life Index revealed 18 million people are unable to save enough, only one percent down from last year.

A further 35 percent fear they are neglecting their overall financial security as the economic downturn continues to bite, compared to 36 percent in 2010.

“We remain in difficult times, with Brits still unable to give their health, wealth or home life as much priority as they would like,” said Iain McGowan, Scottish Widows’ savings expert.

“Taking the first steps towards improving your financial outlook is vital in getting control of other areas of your life.”

The study also showed 45 percent feel they are unable to take as much exercise as they feel they should, while 38 percent are concerned about overlooking their health in general.

Home life is also being neglected with 19 million feeling unable to commit enough time to their partners, and 31 percent craving more time with their friends.

Additionally, 37 percent worry they are not able to focus enough on their job security, with the same proportion concerned they are not devoting enough time to help them progress in their career.

How to Gain Financial Security

If your financial concerns are stopping you from doing other important things in your life follow these tips on how to budget.

Budgeting is the key to staying out of debt, keeping some money aside for a rainy day or to save for the future, or even to be able to afford the odd treat guilt free.


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