Scottish Widows study shows Brits' financial worries

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Scottish Widows study shows Brits' financial worries

Thu 18th Mar 2010

The financial services company found those aged between 18 and 34 are the biggest worriers, perhaps as many people in this age group look to save for a deposit on their first home.

And while men tend to worry more about money than women, they generally appear to be more confident about dealing with finances than women.

Nearly half of male respondents to the Scottish Widows survey rated their financial IQ as good or excellent, compared to a third of women.

Scottish Widows has launched an advice booklet entitled Your Little Book of Money 2010 to try to help Britons strengthen their financial situation.

Commenting on the guide, Scottish Widows savings expert Ian McGowan said most people worry about money matters such as their retirement or the financial security of their children.

"Hopefully Your Little Book of Money 2010 from Scottish Widows will address some of these concerns and so ease the worries, questions and concerns that keep people awake at night," he added.

One of the factors often leading to financial worries is a lack of savings. An earlier Scottish Widows study showed the majority of people who are not saving for their long-term future blamed lack of cash for not putting money away.

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