Lower-income households spend 13 more hours per week worrying than the highest earners, with 31% cutting back on essentials
Two-thirds of UK adults worry about money weekly, survey finds
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Summary
Two-thirds of UK adults spend time worrying about money during a typical week, according to a survey by thinkmoney. The research, conducted among more than 2,000 people in June, found that those in households earning less than £15,000 worry for an average of 29.2 hours per week, compared to 16.2 hours for those earning over £100,000.
The financial anxiety has tangible effects: 30% said it stopped them from making future plans, 31% cut back on essentials like food and heating, and 21% avoided socializing. Regional differences emerged, with the North East reporting the highest average worry time at 26.6 hours per week, while Scotland had the lowest at 17.3 hours.
Cross-referenced from 4 sources.
Factual coreconfirmed by several independent voices
Two-thirds of adults ‘spend time worrying about money during a typical week’.
reliability low1/4 sourcesPeople in households earning less than £15,000 spend around 13 hours more a week worrying about money than those earning more than £100,000, according to the research carried out among more than 2,000 people across the UK in June.
reliability low1/2 sourcesPeople in households earning less than £15,000 who worry about money spend an average of 29.2 hours a week with finances weighing on their minds, while those in households earning more than £100,000 average 16.2 hours.
reliability low1/2 sourcesThree in 10 (30%) people said worrying about money had stopped them making plans for the future during the past year.
reliability low1/2 sourcesMore than three in 10 (31%) people said they had cut back on food, heating or other essentials because of money worries.
reliability low1/2 sourcesMore than a fifth (21%) said money worries had stopped them seeing friends or family as often as they would like and 17% said financial concerns had prevented them being fully present with friends or family.
reliability low1/2 sourcesHere are the average numbers of hours that people said they spend worrying about money in a typical week, among those who worry about money, according to thinkmoney: North East 26.6North West 24.6South West 24.0East Midlands 22.5West Midlands 22.2Yorkshire and the Humber 21.7South East 21.6Wales 21.1London 20.6Northern Ireland 20.3East of England 18.3Scotland 17.3
reliability low1/2 sourcesMore than one in four (26%) said money worries had made it harder to relax during their free time.
reliability low1/2 sources
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according to The IndependentBy contrast, 17% had avoided checking their balance because they were worried to look at it, while 13% had avoided opening bills, letters, emails or banking apps.
according to Evening Standard
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Three in 10 (30%) people said worrying about money had stopped them making plans for the future during the past year.
omitted byCentercovered byLeft sideRight sideMore than three in 10 (31%) people said they had cut back on food, heating or other essentials because of money worries.
omitted byCentercovered byLeft sideRight sidePeople in households earning less than £15,000 spend around 13 hours more a week worrying about money than those earning more than…
omitted byCentercovered byLeft sideRight sidePeople in households earning less than £15,000 who worry about money spend an average of 29.2 hours a week with finances weighing on their…
omitted byCentercovered byLeft sideRight sideHere are the average numbers of hours that people said they spend worrying about money in a typical week, among those who worry about…
omitted byCentercovered byLeft sideRight side
