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
Despite being the market leader, we recognized the need to transform and reinvent our business at Dynatrace, before someone else disrupted the market. Over the course of three years, we changed everything - our technology, our culture and our brand image. In this session we'll discuss how we navigated through our own innovator's dilemma, and share takeaways from our experience that you can apply to your own organization.
Blockchain has numerous revolutionary ambitions, but technology hasn’t evolved enough to make them practical. What is the best use of blockchain technology today? How are asset owners and managers looking at blockchain to transform ownership structures? How will blockchain technology allow global investors to access new markets? What kinds of companies will take advantage of blockchain technology as a more efficient way to raise capital?
This session describes how Professional Services organisations can deliver within Technology-as-a-Service (IaaS) constructs, in private and public enterprise cloud scenarios. See how professional services can be packaged and funded by IaaS cash flows, based upon consumption of technology services. Learn how significant, IT infrastructure transformations can be funded through OPEX spending models with multi-year As-a-Services based contracts. Understand how the automation of repeatable services c...
Since their inception, Total Uptime has been delivering on their promise of unprecedented uptime to major brands as well as Fortune 500 corporations in the United States and around the world. Their Cloud network spans 17 countries and delivers the unique ability to seamlessly route Internet traffic from one site to the next when our customers need us to. It is built on the best SSAE 16 SOC 2 Type 2 and CSAE 3416 Datacenters and boasts an impressive line-up of Network and Transit Provider Redunda...
​Blockchain, also known as Distributed Ledger Technology (DLT), can be used for more than just crypto currencies. This presentation discusses how blockchain and the Internet of Things (IOT) can be used for several supply chain management and logistics use cases. Real world examples that utilize the open source project Hyperledger will be discussed.
Gym Solutions is a software as a service (SaaS) solution purpose-built to service the fitness industry, with over 1000 clients servicing over 2 million gym members across 40 countries making Perfect Gym Solutions one of the largest and fastest growing SaaS applications in the fitness industry. Their platform is a comprehensive package of modern modular products for the management of fitness clubs, sports facilities and gyms an end- to end solution, revolutionising the way that gyms are managed. ...
Enterprises are universally struggling to understand where the new tools and methodologies of DevOps fit into their organizations, and are universally making the same mistakes. These mistakes are not unavoidable, and in fact, avoiding them gifts an organization with sustained competitive advantage, just like it did for Japanese Manufacturing Post WWII.
Eric Taylor, a former hacker, reveals what he's learned about cybersecurity. Taylor's life as a hacker began when he was just 12 years old and playing video games at home. Russian hackers are notorious for their hacking skills, but one American says he hacked a Russian cyber gang at just 15 years old. The government eventually caught up with Taylor and he pleaded guilty to posting the personal information on the internet, among other charges. Eric Taylor, who went by the nickname Cosmo...
There's no doubt that blockchain technology is a powerful tool for the enterprise, but bringing it mainstream has not been without challenges. As VP of Technology at 8base, Andrei is working to make developing a blockchain application accessible to anyone. With better tools, entrepreneurs and developers can work together to quickly and effectively launch applications that integrate smart contracts and blockchain technology. This will ultimately accelerate blockchain adoption on a global scale.
As the fourth industrial revolution continues to march forward, key questions remain related to the protection of software, cloud, AI, and automation intellectual property. Recent developments in Supreme Court and lower court case law will be reviewed to explain the intricacies of what inventions are eligible for patent protection, how copyright law may be used to protect application programming interfaces (APIs), and the extent to which trademark and trade secret law may have expanded relev...
The Blockchain Benchmark asks and answers the questions many people want to know about the state of Blockchain: What are the biggest barriers? What was your motivation to get involved? When will it mainstream? Who are the true influencers? What are its top use cases? Who will win over the next 5 years? How will the future unfold? And 20+ other valuable questions.
Ivo Lukas is the Founder/CEO for 24Notion. 24Notion is the first integrated marketing/digital PR & lifestyle agency with special emphasis on giving back to the global communities. With a broad understanding the art of non- traditional marketing, new media, communications and social influence. 24Notion ranked #12 in Corporate Philanthropy nominated by Portland Business Journal Book of List.
SUSE is a German-based, multinational, open-source software company that develops and sells Linux products to business customers. Founded in 1992, it was the first company to market Linux for the enterprise. Founded in 1992, SUSE is the world’s first provider of an Enterprise Linux distribution. Today, thousands of businesses worldwide rely on SUSE for their mission-critical computing and IT management needs.
Provide an overview of the capabilities of Azure Stack allowing you or your customers to adopt truly consistent Hybrid Cloud capabilities to deliver greater productivity in your cloud world. Ultan Kinahan is on a member of the Global Black Belt team at Microsoft with a focus on Azure Stack Hybrid Cloud. Ultan has been in the Azure team since the beginning, Has held roles in Engineering, Sales and now consults with both small to medium size business and the worlds largest organizations on how to ...
SAP is the world leader in enterprise applications in terms of software and software-related service revenue. Based on market capitalization, we are the world's third largest independent software manufacturer. Harness the power of your data and accelerate trusted outcome-driven innovation by developing intelligent and live solutions for real-time decisions and actions on a single data copy. Support next-generation transactional and analytical processing with a broad set of advanced analytics - r...