Britons facing financial capability problems
Just 1% of Britons have complete control over their finances and the vast majority of people show irresponsible behaviour with regards to their credit cards, banking and shopping around for the best financial deal.
This is according to a survey by Abbey which sought to find out “financial fitness” on a percentage scale, with 0 being a “financially fit machine” and 100 being “financial obese”. The survey showed that 46% of women and 41% of men were “financially overweight”. People in Wales and the South-West were the fittest financially (42% overweight) whereas people in the North of England were the most overweight financially (46% overweight).
Sue Hayes, Director at Abbey said:
“We would encourage people to review the financial products they hold and shop around to ensure that they are getting the most competitive deal available. Like exercise, a financial workout can take a bit of effort but for most people the rewards are well worth the exertion.”