In the National Savings and Investments Quarterly Savings Survey, it has been revealed that a third of Britons are living a financial fantasy. A quarter of those surveyed said that they had not made any financial plans as they expected to be earning more money in the next five years.
Other reasons for not making plans are expecting to borrow what you need and expecting a windfall or inheritance. The survey also shows that only two in five people have made plans up to five years in advance.
Our view
We all need to start saving as early as possible.