Money Worries Us Most

A recent survey of 2,060 people aged 16 and above, across the United Kingdom has revealed that money is the one thing most of us are likely to worry about.  

In the Midlands, 43 per cent said that money was the one issue that stresses people out the most.  Most people said that they would seek advice from family and friends first, before considering counselling services.  

Citizens Advice, Advice UK and Youth Access conducted this survey.  Citizens Advice CAB are concerned that people seem to worry as much about money as they do their health and warns that the citizens advice bureaux handles 6,600 new debt cases everyday.  

This figure does not reflect the number of people who need the services that the citizens advice bureau offer but don’t receive it.  The citizen’s advice bureaux are urging people to seek advice if they are having problems, and not just hope that the problem will go away.  

Our view

Many of our money worries can be avoided by planning properly.  The solutions are relatively simple:

• Budget properly: People overspend and do not plan what how they spend their money
• Shop properly:  buy local produce, make meals, avoid ready made packaged food.  It may look cheaper butit is not in the long run
• Redundancy protection: many do not take out simple redundancy protection cover or loan protection cover
• Cut up credit cards: Only buy when you can afford it or have saved up enough and never on credit
• Stop buying new cars
• Walk more
• Take expert financial advice once a year - MOT your money every year.

The reality is many of us live up to our means instead of living below them.  Spend less, save more and in times of difficulty, fall back on the protection of insurance policies and your emergency savings.

Useful links:

Request expert financial advice now

Purchase guidance on financial planning in the Money Shop 

Back to News Summary