People 'are worried about their finances'
Published On 4 September 2007
Over 3.4 million people in the UK are deeply concerned about their levels of debt and finances in general, new research has shown.Figures published by Alliance & Leicester show that 18 per cent of Brits worry about money on a daily basis and another 30 per cent think about their finances a couple of times every week.
Concerns about debt and personal finance tend to increase at certain times of the year, the figures show. Indeed, 40 per cent of people revealed that they worry about money in the run up to a holiday and 50 per cent get nervous around Christmas time.
Furthermore, a third (33 per cent) get nervous about their debt as pay day approaches.
Despite the worry, 37 per cent of people admitted that they have taken no action to curb their spending or deal with their debt. These people even avoid opening bank statements in a bid to remain ignorant about their finances.
"Money is obviously a topic at the forefront of most people' minds," commented Andy Bayes, head of current accounts at Alliance & Leicester.
"Regardless of whether money worries stem from managing day to day finances or finding the money in the run up to special times of the year, it's crucial people check that their bank account is working hard for them."
Recent figures from Credit Action showed that consumer debt in the UK reached £1.355 trillion in July.
