A total of 55% of consumers in the UK have
revealed they do not have long-term investments, savings, or
pensions, according to research commissioned by Skipton Financial
Services.
The ‘Priority Report’ quizzed adults on their
attitudes and behaviour towards spending and saving in the current
economic climate of higher inflation and squeezed pay.
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This found that once consumers in the UK pay
for their essentials, such as bills, rent and mortgages, the rest
of their money is more likely to go on TV subscriptions, meals out
and haircuts, rather than putting it towards a pension.
When asked about the distant future, one in
five respondents said they worry more about what will happening
next week than several years down the line.
Andrew Barker, managing director of Skipton
Financial Services, said: “The danger of the ‘short-term’ approach
though is that long-term financial goals get neglected that may hit
families even harder in the future.”
The survey also looked at the main worries faced by people in
the UK on a day-to-day basis.
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By GlobalDataFor example, a total of 45% said they worry about making sure
there is enough food in the house; 35% worry about if there is
enough petrol in the car; and 34% think about how to pay the
bills.
