According to Standard Life, there has been a huge shift in attitudes towards financial management since last year, with ‘clearing debts’ and ‘financial security’ both in the top five of the firm’s so-called ‘happiness mantra’.
Ashley Ramsay, from Standard Life Bank, said: “The research shows a really positive shift in attitudes towards financial management.
“Whereas previously it ranked pretty low on people’s agendas, people are recognising that financial security would make them feel happier.”
Despite the optimism found in Standard Life’s research, overspending at Christmas is having an effect on people’s ability to repay their debts at the start of the new year, price comparison site uSwitch has said.
It said that a number of households will have no choice but to default on their mortgage, household bills and council tax this month because of a lack of available funds.