April 2019
Featured in this insight: Financial services
Only a third of Brits feel in control of their finances: A survey asking respondents questions about their finances and how they manage their money found that only a third feel ‘in control’ of their financial situation.
The poll by insolvency practise Creditfix found 34% felt as though they had a hold on their finances, while more than half of the respondents polled said they had no idea how much money they had in their account at this time.
When it came to keeping on top of their finances, the research which polled 1,000 UK adults, found just a fifth (20%) regularly log their expenditure each month to give a better picture of their overall financial situation. Fourteen percent (14%) said they check their account but only twice a month.
Probing respondents a little further about reasons they did not keep a tighter eye on their financial affairs the poll found 31% blamed their actions on lack of time to log how much they were spending.
Fifteen percent admitted the reason they don’t keep in the loop about their bank balance is because they simply preferred not to.
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