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A third of Brits ‘don’t feel in control of their finances’

A poll carried out by Creditfix found that just more than a third (34 per cent) of Brits surveyed said that they don’t feel in control of their finances. As spiraling debt continues to be linked to health issues such as depression, heart failure and more, it has also been found that more than half (57 per cent) couldn’t confirm the amount of money in their bank account at any given time.

The research also reveals that only 1 in 5 (20 per cent) British adults log their outgoings each month to keep track of their finances, while 14 per cent admitted that they would only check their bank account twice a month.

Taylor Flynn, marketing manager at Creditfix said: “It’s worrying to see just how few British adults feel in control of their finances. It’s understandable of course, but it is concerning.

“There are simple ways to manage finances and thanks to apps and technology advances, there are more things available than ever before that can be used to make this easier. Setting a realistic weekly budget will allow Brits to monitor how much they can spend to avoid going into any unwanted debt. By scheduling monthly bills, this will help to control any outgoings as it can be monitored effectively.

“Creating a monthly log to track spending on items such as bills, food shops and social activities is also helpful and doesn’t need to take endless amounts of time. This will make life easier in the long run and can prevent debt and financial difficulty along the way.”

Fact file

Creditfix Limited is one of the largest personal insolvency practices in the UK, servicing Scotland, England, Wales and Northern Ireland. The full list of areas that Credit Fix can give advice on can be found at www.creditfix.co.uk.

For more information on Creditfix see www.creditfix.co.uk.

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Suzi

Editor in chief Suzi Dixon studied at Bournemouth university, went away for a while to work at The Daily Telegraph, then moved back to the sunny South coast for a quiet (er) life. Bournemouth News & Info is her website and she is assisted by the fabulous Fred From France in all things geeky and technical. Hire us to make your website, too, if you like.

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