You are here: Home - Household Bills - News -

Three-quarters of UK residents are stressed about money

0
Written by:
17/05/2018
As part of Mental Health Awareness Week, a report has found that around three-quarters of UK residents are stressed about money, with around a fifth describing themselves as ‘very stressed’.

Metro.co.uk’s Mentally Yours and Toluna found that people are most worried about their overall level of income; with bills/rent and debt following closely behind.

This echoed the recent Office for National Statistics (ONS) Well-being research, which showed one in five people aged between 16 and 34 exhibiting signs of depression, anxiety or other signs of mental ill health, with the high cost of living a contributing factor.

The research showed that 4.46% of people – almost one in 20 – responded four or below when asked how satisfied they are with their life on a scale of zero to 10. These were concentrated on the least wealthy.

In contrast UK pensioners are happier, with a greater sense of self-worth and they are less worried than any other group. These are also the wealthiest group.

Maike Currie, investment director for Fidelity International, said: “There are still far too many people whose state of mind and sense of security is impacted by money worries, whether stressed managing day-to-day expenses, saving for a housing deposit or fears about future financial security.”

“With a focus on mental health awareness week, it’s worth noting that money worries can have a detrimental impact on one’s family life and work life. Achieving a sense of financial well-being is about a lot more than just how much you earn and it’s important people start taking an holistic look at their finances.

“Too often, we fall into the trap of looking through the single lens of income to determine how well off we feel or think we are, forgetting that budgeting, tackling debt, spending wisely and getting into a savings habit can have a huge impact on levels of happiness, stress and anxiety.”

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.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

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.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week