Consumers 'do not have the time to manage their finances'
Published On 2 May 2008
Long working hours mean that a significant number of people in the UK do not have time to properly manage their finances, a new report has warned.American Express found that 82 per cent of workers believe they are forced to forget important activities in their free time because of the increased pressure at work.
In particular, the research showed that 27 per cent of people believe they no longer have time to sort out their finances and carefully check credit card and other bills.
What's more, 13 per cent said they are never able to find the time to look for the best insurance deals and 16 per cent said they had got into debt by forgetting to pay bills on time.
"We recognise that for many hard working Britons there are simply not enough hours in the day. However, our research shows many Brits are letting their health, relationships and finances suffer as a result," explained Chris Rolland, head of American Express insurance services.
Recently, moneysupermarket.com urged people to take the time to search online if they wanted to find the best utility tariffs.
Head of utilities Paul Schofield explained: "Online tariffs continue to offer the best prices but customers may now want to look for reassurance in 'fixed' tariffs to avoid any further price hikes."
