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Three quarters of Britons are financially out of control, says IFAP

Just one in four British adults are in charge of their finances, and women are the worst culprits, according to a recent study by IFA Promotion.

Only 25 per cent of adults made a budget and stuck to it, while 31 per cent say they tried to budget but failed.

Even fewer 14 per cent – have never even tried to budget, 16 per cent worry about their finances and think they need to start, and 5 per cent have abandoned all hope of ever being financially in control.

IFAP chief executive David Elms says: The twin ideas of budgeting and thrift seem almost lost to history; and while over half of us claim to work to a budget, most are unable to stick to it in the face of temptation.

“The uncomfortable fact is that few people can expect the bank of mum and dad to bail them out if borrowing costs rise, and the State no longer provides a comfortable retirement for those who refuse to save for the long term.


Time we made contact over high cost of calls

Insurance and investment firms are seemingly most helpful in providing lo-call 0845 and 0870 phone numbers with which to contact them. But is this as altruistic as it first appears to be? Some of these numbers allow for a structure whereby the company being called ret-ains part of the cost of each call.

Multi-manager view: Tony Yarrow

In a world where we are all increasingly specialising to survive, someone who is a fund of funds manager and a financial adviser looks out of place. Surely it is a way of doing both things badly? Why not do just one of them properly and have an easier life?


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