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Household financial pressure eases

The number of people concerned about their financial situation has fallen by a sixth over the past 12 months, a survey by MoneySuperMarket has found.

The survey of more than 2,000 people revealed that 31% worry about their finances on a daily basis compared to 36% in 2013.

However, money remains a source of stress:

  • half of adults are frequently or occasionally stressed about their finances
  • 66% of 18-24 year-olds said they worry about their finances compared to 29% of over-65s
  • a third said money worries affect their health.

Dan Plant, consumer finance expert at MoneySuperMarket, said:

"It's great to see that the number of sleepless nights caused by money worries fell in 2014.
"However, money troubles haven't gone away and cause more stress than any other factor, particularly for younger people.

"Make doing a full bills makeover New Year's resolution. The beginning of a new year is the perfect time to detox your finances, and often small changes, like, making sure you're not overpaying for things like car and home insurance and energy can mount up to sizeable savings."

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