News Article

Two thirds of UK 'putting off the big decisions'

Published 28 March 2012 by

Research from MoneySupermarket.com says that two thirds of Brits are putting their 'life on hold' during the downturn.

When money is tight, you need to prioritise your spending, but the kinds of things you might think are a priority - like buying a house or getting married - are the kinds of things that many of us are delaying at the moment.

When you're between the ages of 18 and 34, you're more likely to experience big life changes like these, but the research found that 17% of people in this age group have put off buying a home (for four years on average) and 10% have delayed getting married. A further 8% have delayed starting a family by an average of three years.

Overall, 32% of people are putting off travelling, 27% are putting off their home improvements and 21% have delayed their short-term saving. People are delaying retirement by five years on average too, although most of us will be retiring later when new legislation is introduced in the near future.

During a downturn, it's easy to understand why people feel that they haven't got enough money to do the big things. If you feel that money is slipping through your fingers, you want better control of your spending, or you'd like help to save for a rainy day, you may want to consider trying a managed bank account.

Switching to a managed bank account could help you to understand where your money is going every month, and avoid going into the red at the same time. Click here to find out more about our managed account.

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