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Over a third of British people have admitted to neglecting their finances, according to a recent survey by Scottish Widows. The second annual Priorities of Life Index has revealed that 35 per cent of Brits said that they did not focus on their financial problems as much as they would like to. Of those who acknowledged that they were neglecting their finances, around a quarter said they didn’t like to think about their day-to-day financial issues, while a fifth said their debt problems made them feel financially insecure. The Priorities of Life Index also found that many Brits want to pay more attention to their savings in the future. 38 per cent of those who were surveyed said that they weren’t saving as much as they would like, and 11 per cent said that saving for the future was something they wished they had more time for. Iain McGowan, a savings expert for Scottish Widows, said of the figures: “Even though the recession may be officially over, the importance of having a financial cushion to fall back on is at the front of a lot of people’s minds, but time and money constraints prevent them from being able to do the thing they need to in order to feel as secure as they would like. “It’s extremely worrying that so many people bury their heads in the sand. By carefully planning their finances in the future, they could avoid a lot of this worry in the long-term.” If more and more Brits continue to neglect their finances in such a manner, then it could lead to more people amassing uncontrollable debts, which would best be managed by a debt management programme. Ref: DBT-HS-100511
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