Welcome!

News Feed Item

Brits Had Fewer Financial Regrets in 2012

LONDON, UNITED KINGDOM -- (Marketwire) -- 02/01/13 -- Brits were happier with their finances in 2012 than the previous year, reveals first direct's third annual "Financial Regrets" survey. Despite falling disposal income, the results show that 60% of Britons were happy with their finances in 2012, an increase of eight per cent on 2011 (52%), and almost bouncing back to the levels of happiness seen in 2010 (64%).

For those who did have misgivings about their finances in 2012, not saving enough was their biggest regret; almost a third (32%) of those surveyed stated that their greatest financial misstep last year was not putting enough money away. However, while this remains the nation's biggest financial regret, the figures show a reduction of a fifth on the previous year (52%). Not paying off debt was the second most common regret in 2012, with almost a quarter of Britons (23%) wishing they had paid back more, compared to a third in 2011 (33%). Seven per cent regret not paying enough into their pension, a drop of 6% on 2011 (13%) and concluding the top 5, was not buying a property and not taking a home mortgage (4% versus 7% in 2011).

Top 5 Financial Regrets over past 3 years

----------------------------------------------------------------------------
   2012                  2011                       2010                    
----------------------------------------------------------------------------
1  Not saving enough     Not saving enough     52%  Not paying off more  53%
   32%                                              of my debts             
----------------------------------------------------------------------------
2  Not paying off more   Not paying off more   33%  Not paying into a    37%
   of my debts 23%       of my debts                pension                 
----------------------------------------------------------------------------
3  Not paying in to a    Not paying into a     13%  Spending too much on 18%
   pension 7%            pension                    run up to Christmas     
                                                    and gifts               
----------------------------------------------------------------------------
4  Spending too much on  Not buying a property 12%  Staying in a rented  14%
   a partner 4%          and renting rather         property too long       
                         than buying                                        
----------------------------------------------------------------------------
5  Not buying a          Spending too much     7%   Spending too much    14%
   property 4%           money on a partner         money on a partner      
----------------------------------------------------------------------------

Interestingly almost 60% of those living in the North East said they had no financial regrets in 2012 versus just over 35% in London. In Wales just over a quarter regretted not paying off debt and not saving enough (26%). And in Yorkshire 6% felt they'd spent too much on their partner, 2% more than the average.

Nearly half of men said they had no financial regrets in 2012 versus just over two-fifths of women; however both genders ranked not saving enough at the top of their list of financial regrets in 2012.

Andy Forbes, Head of Product at first direct commented:

"Against a backdrop of inflation running higher than average wage increases, it's great to hear that people are positive about their finances and have fewer financial regrets. It seems that they are focussing on reducing their debt and increasing their savings.

"It's always a good idea to plan ahead, as good organisation can help pay off debts more quickly and increase disposable income to help save for all those little treats."

Notes to Editors

The survey was carried out by Opinion Matters between the 4th and 18th January 2013 for first direct and questioned 2002 people aged 16 and over. Full survey results are available on request.

For the latest updates, visit the first direct Newsroom or follow us on Twitter.

first direct provides both telephone banking and online banking services to its 1.2m customers. It offers a full range of personal banking products including its award winning Current Account and offset mortgages.

Contacts:
first direct
Rebecca Hirst
0113 276 6899
[email protected]

first direct
Amanda Brown
0113 276 6700
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The level of trust we have with individuals, businesses, and technology affects our lives daily. This is important to remember when discussing new technologies. For example, our level of trust is a critical factor when evaluating a new technology as a potential solution for providing business value. Given the importance of trust, imagine one's reaction upon hearing that blockchain is a "trustless trust" system. On the surface, that does sound like an oxymoron. This paper discusses how "trustless...
Public clouds dominate IT conversations but the next phase of cloud evolutions are "multi" hybrid cloud environments. The winners in the cloud services industry will be those organizations that understand how to leverage these technologies as complete service solutions for specific customer verticals. In turn, both business and IT actors throughout the enterprise will need to increase their engagement with multi-cloud deployments today while planning a technology strategy that will constitute a ...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
Moving to Azure is the path to digital transformation, but not every journey is effective. Organizations that start with a cohesive, well-planned migration strategy can avoid common mistakes and stay a step ahead of the competition. Learn from Atmosera CEO, Jon Thomsen about the opportunities and challenges found in three pivotal phases of the journey to the cloud: Evaluation and Architecting, Migration and Management, and Optimization & Innovation. In each phase, there are distinct insights tha...
Most modern computer languages embed a lot of metadata in their application. We show how this goldmine of data from a runtime environment like production or staging can be used to increase profits. Adi conceptualized the Crosscode platform after spending over 25 years working for large enterprise companies like HP, Cisco, IBM, UHG and personally experiencing the challenges that prevent companies from quickly making changes to their technology, due to the complexity of their enterprise. An accomp...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
Andrew Keys is co-founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereum.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy. Bill has a very impressive background which includes ...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions. New research shows that delivering on multicloud e...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
DevOps has long focused on reinventing the SDLC (e.g. with CI/CD, ARA, pipeline automation etc.), while reinvention of IT Ops has lagged. However, new approaches like Site Reliability Engineering, Observability, Containerization, Operations Analytics, and ML/AI are driving a resurgence of IT Ops. In this session our expert panel will focus on how these new ideas are [putting the Ops back in DevOps orbringing modern IT Ops to DevOps].