Increasing numbers of individuals facing financial difficulties such as a
bad credit rating may have been unhappier in 2011 than they were the previous year.
New research from first direct found 48 per cent of Brits were glum about their monetary affairs, compared with 36 per cent in 2010.
This is the second year the survey has been conducted and in this instance it was established not saving enough was the biggest regret.
Over half (52 per cent) of the population admitted this was a concern, which was not registered in the first run of the study.
Individuals attempting to fix bad credit by paying down their debts may have managed their budget in a more disciplined fashion, as there was an improvement in the number of respondents who said they could have kept up with bill repayments better.
A third (33 per cent) said they regretted not doing this more effectively in 2011, compared with 53 per cent in 2010.
However, excess
credit card use could remain an issue, as 68 per cent of those surveyed said they are unhappy with their general spending habits, whereas in 2010 only 60 per cent of people said the same thing.
"Ensuring that you plan your long term spending is extremely important, as good organisation can help you pay off debts more quickly, increasing disposable income for saving and allowing your money to work for you more effectively," commented Bruno Genovese, head of savings for first direct.
"The earlier people start to plan their finances and look to the future, the better their long term financial position will be," he added.
Indeed, this could help people budget for next year's Christmas spending, as spokesman for Moneynet.co.uk Andrew Hagger recently claimed this is best achieved by setting a little money aside every month throughout the year.
Posted by Gemma Walker
