show Digital target

Millions of Brits put off sorting their finances - because they lack confidence to do so

Reading now: 438
www.dailystar.co.uk

Millions of Brits are feeling anxious or worried about their personal finances – as more than a quarter admit they have no faith in their ability to manage their money, according to research.A poll of 2,000 adults revealed that 26% have no idea where to start when it comes to sorting out their money, while 27% felt that they don't have enough awareness about their finances.As a result, Brits who are putting off sorting out their money are doing so for an average of seven months.Ankit Khemka, global general manager at Revolut, which commissioned the research, said: “It’s vital people can have confidence when it comes to managing their money.“Consumers have had to settle for subpar money services because they’ve been made to think that “good enough” is good enough.“People are increasingly under financial pressure, but our world is gradually opening back up, and with that comes opportunities for new experiences and futures.”The research found almost one in five (19%) had thought about changing finance companies in the last 12 months.Getting a higher interest rate on their savings (41%), being offered money (40%) and cashback offers (33%) were the main priorities when it comes to considering a switch.People also wanted to see all their financial services in one place, while others felt their bank was too far away from where they live (both 28%).Just shy of half (45%) said they used online finance tools to manage their money – and, of those, 70% felt managing their cash online was easier than managing physical cash such as notes or coins.Ankit Khemka said: “The research revealed that 77% feel that managing money online is easier than attending a bank in person.“Managing your finances digitally offers opportunities in money.

Read more on dailystar.co.uk
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA