Future planning 'important for financial safety'

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Future planning 'important for financial safety'

Tue 25th Oct 2011

People across the UK have been advised that effectively planning for their future and setting aside a nest egg to meet unexpected costs is a prudent course of action that can help get them through hard times.

Mark Bower, managing director of moneymaxim.co.uk, said as the government reduces its welfare bill, this will inevitably require families to have greater provisions to cope with financial hardship during times of illness or unemployment.

As a result, having in place savings and plans to cope can be highly beneficial to Brits in this position.

He commented: "These provide not just financial help but also relieve the anxiety many feel at a time when their budgets are stretched and therefore can aid recovery from a major illness."

According to research by Macmillan Cancer Support, more than two-thirds (70 per cent) of UK cancer patients are hit financially through increasing costs and lost income as a direct result of their disease.

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