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Brits ‘bury their head in the sand’ over financial issues

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24/04/2015
Almost two-in-three Brits say they choose to bury their heads in the sand over financial issues.

A survey by price comparison site Confused found people were at risk of losing their home by not planning enough.

Nearly a third (31%) of respondents said they often push any financial worries to one side with the same proportion putting off dealing with a situation until the last minute.

The survey found such actions had led to bankruptcy, falling ill, losing jobs and in some cases home repossession.

Other ramifications have included falling out with family members and visits from bailiffs.

This reluctance to tackle financial issues is despite almost half (47%) of Brits revealing that they worry about their personal finances.

Some 32% of people hoped that if they ignored an issue it would go away.

Matt Lloyd, head of life insurance at Confused, said: “Britain seems to be a nation of Ostriches with many people choosing to bury their head in the sand rather than dealing with issues head on.

“Whilst for some things this might be ok, when it comes to things like bills and illnesses, it’s better that any problems are dealt with straight away.

“And if Brits are worried about securing the future for their family later in life, they should look into life insurance sooner rather than later. No-one knows what’s around the corner and if you don’t have cover in place, your family could be left struggling.”

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