Four in ten not planning to resolve finances21 million Brits have no money-related resolutions

26 January 2011


The economy shrank by 0.5% fuelling fears of a double dip recession

Two-fifths of UK consumers have set no money-related resolutions for 2011. Of these 21 million people, an estimated eight million admit they are not happy with their current financial situation. Two million believe their finances will sort themselves out.

A lack of resolve to sort out their finances could leave millions in strife this year, especially with the economy so fragile. Research from the Consumer Financial Education Body (CFEB) found that 43% of UK adults said they have not made any financial or money-related resolutions for 2011, despite 37% of these people admitting that they are unhappy with their current circumstances. 

Money Workout

The CFEB's findings were announced ahead of the launch of the Money Workout campaign, which hopes to help people get their finances in order in 2011. The online campaign, which is launched tomorrow, offers simple advice on how people can improve their financial situation through downloadable advice guides and a step-by-step guide to making their money work harder and staying in control. Budgeting, building up savings and making financial decisions are among the issues tackled. 

Time for financial change

Tom Hobman, chief executive of the CFEB, said: 'At this time of year there is lots of advice to help you lose pounds off your waistline. It’s great to hear so many people have also thought about the pounds in their pocket, and made a money resolution for 2011. 

'Staying on course with any resolution can sometimes be tricky, but our Money Workout can help people to stay on track, and offers supportive steps for those who haven’t made a money-related resolution but feel unhappy or overwhelmed by their financial situation and would like to improve it in 2011.'

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