Over half Brits struggle to build financial safety net

One in 10 cannot keep track of regular bills and payments

clock • 1 min read

The majority of the British public are struggling to build up financial safety nets, despite knowing how vital they are, according to research from debt management company Lowell.

In a survey analysing peoples' attitudes towards financial tasks, the creation of a financial safety net was identified as the hardest for most respondents (66%).  At the same time, 60% identified saving for specific long-term purchases as their biggest financial challenge with 33% admitting sticking to a budget was the hardest struggle they faced.  Day-to-day money management was also identified as a challenge.  Almost a quarter (22%) admitted they struggled to manage loans and debts, with one in 10 (9%) confirming they could not keep track of their regular bills and p...

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