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
Sometimes I write a blog just to formulate and organize a point of view, and I think it’s time that I pull together the bounty of excellent information about Machine Learning. This is a topic with which business leaders must become comfortable, especially tomorrow’s business leaders (tip for my next semester University of San Francisco business students!). Machine learning is a key capability that will help organizations drive optimization and monetization opportunities, and there have been some...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.