Over 4.4 million Britons are unsure about the future of their finances in the current economic climate.
The third annual Scottish Widows Priorities of Life Index found the economic climate has continued to impact the nation’s wallets, and financial priorities have suffered as a result. Despite their best intentions, 18.7 million adults (38%) admit to neglecting their finances an increase of 1.7 million since last year.
Many people are neglecting their financial priorities simply because their budgets are stretched too far every month, Scottish Widows said. Once the essential outgoings have been paid, including mortgage/rent, credit card bills and grocery shopping, 8.2 million adults (16%) have absolutely nothing left to spend at the end of the month, and a further 9.8 million adults (19%) have under £50 left.
The year on year Index has further highlighted that 21% of adults have what they would class “a lot less”” money