Britons walking “financial high wire”

Scottish Widows claims that 44 per cent of households require two salaries to keep an acceptable standard of living up, yet a quarter of homes have no savings for emergencies to repay debt.

“The majority of the population is walking a financial high wire without a safety net,” said Nick Kirwan, Scottish Widows’ protection market director.

Around 57 per cent of income goes on essentials, yet a significant proportion lacks insurance, savings, planning or other means of guarding against the effects a loss of earning would have.

Mr Kirwan urged people to look at a debt management plan to ensure that they are covered for the unexpected.

“If people don’t start to take responsibility for their own financial futures then they could be left in a position where they can’t even cover the essential expenditure in their lives,” he stated.


Tell others:


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.