Top financial worries revealed in new research.

financial-worries-post

In its latest research series of working adults, WEALTH at work – a leading financial wellbeing and retirement specialist, has uncovered the top financial worries that people have:

Top financial worries:

  • Being unable to afford to retire when they want to (32%)
  • Not having enough savings aside for unexpected costs (32%)
  • Getting into debt in the future (30%)
  • Not being able to reach future goals (e.g. buying a house) (27%)
  • Being unable to manage household bills and expenses including the mortgage (27%)
  • Not being able to afford their lifestyle (25%)
  • The level of debt they are in now (22%)
  • Not being able to keep up with friends and family (21%)

Jonathan Watts-Lay, Director, WEALTH at work, comments; “Many people do have real financial worries, whether that be questioning whether they can comfortably retire when they would like to, coping with debt, not being able to manage household bills, or a lack of savings. A big part of the battle is finding the help and support needed to tackle these issues.

He continues, “Financial education can help individuals understand the basic principles of money management, including how to set budgets and manage finances and debt, and how to build a personal savings plan for unexpected costs or to reach future goals  – whether that is saving for a first home, holiday or for retirement.”

Watts-Lay explains; “Employers are now increasingly putting in place financial education seminars and digital support to help improve their staffs’ financial wellbeing. This can really help people to feel secure about their finances, so it’s always worth speaking to your employer to find out what support is available.”