Which? uses cookies to improve our sites and by continuing you agree to our cookies policy

Four in ten not planning to resolve finances

21 million Brits have no money-related resolutions


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.’

For more on how to save money, visit the Which? bills and budgeting guide

Which? debt, credit and loans surgery

Which? Money is running an online debt, credit and loans surgery between 12pm and 1.30pm on Monday 31 January, when you can ask our panel of experts all your credit and debt questions.

Whether you’re looking for the best credit card to use abroad, hunting for the best personal loan, want to ask about credit card protection or need independent help in finding the best debt advice service, sign up now for an email reminder and join us on the day with all your questions.

pound coins

Which? Money when you need it

You can follow @WhichMoney on Twitter to keep up-to-date with our Best Rates and Recommended Provider product and service reviews.

Sign up for the latest money news, best rates and recommended providers in your newsletter every Friday.

Or for money-saving tips, and news of how what’s going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast

For daily consumer news, subscribe to the Which? news RSS feed here. And to find out how we work for you on money issues, visit our personal finance campaigns pages.

Back to top