You are here: Home - Insurance - News -

Only 4 days a year spent safeguarding the future

0
Written by:
21/08/2012
Britons need to seriously review their finances and prioritise neglected protection, Bright Grey has urged.

According to its Financial Safety Net report, people now need to work solidly until mid-August every year just to cover tax payments, housing costs and household bills.

Bright Grey’s research reported a “staggering” 150 days spent working for the state and 55 days paying for housing; comparatively only four days were spent protecting life, income and critical illness.

Roger Edwards, managing director at Bright Grey, said: “Given that we have to work so long to cover the basic living costs it is worrying that we are willing to lavish 10 days of our salary on going out and entertaining compared to the four days that we allocate protecting ourselves and our families should we lose our income.

“We urge Britons to review their finances and really think about what they spend their money on so they can prioritise safeguarding their futures.”

Today, August 20, has been marked by the provider as Bills Freedom Day.

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2200058-grant-shapps
Shapps: More tenants using coalition’s national home swap scheme

Social tenants who have been stuck in homes that no longer meet their needs are seizing the opportunity to up...

Close