GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Lifestyle

 
  Share
  • More than half of British women have no long-term financial plan
  • 38 per cent admit they don't know what their pension is worth and a third don't have one at all
  • A third say they feel ‘worried' and/or ‘bewildered' about their finances
  • Better financial education at a younger age and easier access to a wider range of financial advice suggested as solutions by those surveyed. 
Dubai, UAE, 27 February, 2018:   Half of British women have no long-term financial plan and almost a third have no pension, according to a recent study.  
The alarming research, commissioned by financial services firm Holborn Assets, also revealed that although 30 per cent of those quizzed were in sole charge of their own budgets, one in ten didn't know how much they had saved and more than a third - 38 per cent - who do have a retirement fund, admitted they didn't know what it's worth.
 
The 2018 Female Finance Survey, which canvassed the views of 500 British women, suggested fear, apathy and confusion as possible reasons for the worrying results, but also highlighted potential solutions such as better financial education at a younger age and easier access to a wider range of financial advice.
 
A third of respondents (37 per cent) admitted being worried or bewildered' about money matters, while 30 per cent say they don't feel confident about planning for the future. Almost one in five (18 per cent) admitted being intimidated by the thought of consulting a professional, while a nonchalant 27 per cent said they just weren't interested in getting advice.
 
Respondents blamed being too busy (26 per cent) and not knowing where to turn (29 per cent) for their financial ignorance, while only one in three of the women questioned had sole charge of their own money.
 
Two thirds - 68 per cent - regret not planning better in the past and wished they'd taken more interest in their finances, but just 14 per cent said they considered financial advice as essential, with 26 per cent planning to get some in future. Those planning to seek advice revealed they were as likely to speak to their partner (30 per cent) as to a professional advisor (31 per cent).
 
Providing financial education to young women in school was the most popular solution to improve financial planning amongst British women - named by an overwhelming 57 per cent of those asked. Better access to a wider range of advisors was the suggestion from 14 per cent, while 12 per cent families needed to talk about money more often and a further 13 per cent thought more conversations between partners was the way forward.
 
Bob Parker, CEO at Holborn Assets, said: “It is interesting to see the nervousness and confusion that still exists around access to financial planning and advice.
“While large numbers of women are working hard to plan for the future or looking for ways to make their money work harder, we are hearing that significant numbers would appreciate more tailored help and advice.
 
“More and earlier education, as well as signposting to the most appropriate kinds of advice, can help create long-term awareness and resilience. Holborn Assets can offer a wide range of solutions, designed to make it easier for clients to get the support they need to make a difference to their future.
 
“The first step we always suggest is to seek the right professional advice from an established and qualified firm.”



Posted by : GoDubai Editorial Team
Viewed 8930 times
Posted on : Tuesday, February 27, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Master the Art of Brow Contouring and Perfect the Smudged Smokey Eye Look with Max Factor's Eye Stud...
Next Story : Halal, Vegan and Cruelty Free Brand “FC Beauty” Launches its Nail Polish Range in the UAE
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
D1 Milano Launches Exlcusive Limited Edition Collection –The Khaleeji
The Incredible Power of the Mushroom!
Beware of Cheap Beauty Deals: They May End Up Being More Costly
GaGà Milano unveils six extra-special watches to celebrate Neymar's genius
8 Jours Grande Taille - a new avatar on iconic timepiece
Carl F. Bucherer Celebrates Its Anniversary With the Heritage Tourbillon Double ...
Tissot Lady Heart Flower Powermatic 80
Get Ready for The Festive Season with The Body Shop's Enchanted by Nature Gift C...
Sukin's Top Holiday Picks for a Supple-Skin Winter Season
Switch your hair colour safely for the new season with Rahua's Color Full range
Omega Raises Its Warranty On All Watches to 5 Years
Everyday care for your baby's hair with Fifi & Friends!
Bringing you warmth and shine this festive season
Season's Greetings 2018
Twelve Holiday Gifts for the Beauty-Obsessed Woman
The Smile Bar Opens Its First Store in the UAE
Chloé Eyewear's Feminine Appeal Seen Through the Lens of the New “Rosie” Style
Purely Pandora Classics With a Twist
#MKGO Bold: Michael Kors Unveils Bold New Arrivals
Triumphant First Daman Dxb Swimfest at Jumeirah Beach Hotel
New 1948 Seamaster Watches Join the Ranks
Festive Gifting Guide
Indulge Your Love for Animal Print with M&S
Alina Anwar Couture Launches in UAE
Must-have festive Christmas jumpers and tees for the whole family
Add a festive sparkle to your eyes with Palladio Beauty
Parah dedicates its Fall/Winter 2018/19 collection to femininity
The Geo-Graham Orrery Tourbillon presents a galaxy you can reach out and wear Ge...
Starbucks announces the return of festive favourites
National Geographic Launches Mars 2 into Orbit with Season 2 Premiering Nov 15 ...
Give an abandoned or neglected cat their forever home at Kittysnip's adoption da...
Land Rover Supports Red Cross Disaster Projects Worldwide
Tryano Launches Elemis
The new BMW 8 Series Convertible.
‘Celebrate 2019 Now' with special deals from Al-Futtaim Toyota
Sprint for a Great Cause at Al Maha
Etihad Airways Launches Model Diary of Xiaowen at China International Import Expo
EDCC organizes largest UAE Pavilion at debut SNSR in Saudi Arabia
Department of Culture and Tourism – Abu Dhabi Organises ‘Herfaty' Programme in A...
Jameel Arts Centre, Dubai opens with an ambitious set of exhibitions and program...
Unilever MENA calls for collective action as it's revealed that 54% of consumers...
Introducing the GUESS Holiday 2018 Collection
The Sharjah Stamp Exhibition celebrates the Year of Zayed
Presenting Katrina Kaif in her hottest desi avatar as Suraiyya in Thugs of Hindostan
Emirates Steel signs new long-term iron ore pellet supply deal with Vale
Amp up your skincare routine with The Organic Pharmacy's new corrective serums
Bharat Thakur Artistic Yoga's Flagship Studio opens in Burjuman.
Superhero Color Runners Prove We Are All Unstoppable!
Top five new things to do at Golden Mile Galleria this season
IKEA Promises 25 Years of Quality Guarantee