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A leading debt management company is reporting a rise in the numbers of its customers who cite loss of sleep as a direct result of debt anxiety as a major catalyst for contacting the company for help.
Annual average household expenditure is estimated to be £35,978. The corresponding figure for a household where the main occupant is 65 – 74 is £23,711 and £15,139 where they are aged 75 and over
A third of workers are more likely to go into work ill because of the economic downturn, a survey reveals. The study of 1,600, found that 30 per cent of workers are now more inclined to go to work sick as a result of the current economic climate. Around half of those choosing to turn up for duty while sick said the most important factor in their decision was job security.
With the recent Macmillan study showing cancer sufferers and their families are 20 times more likely to ask for help about financial issues, than about death and dying, Chartis Direct reports increased interest in its unique cancer insurance products WellWoman and CancerCare, which give cash payouts on diagnosis of cancer.

Edition 23 24-07-2011
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Parents worried about saving money for their children

 www.moneyagonyaunt.com today reveals that 68% of parents with children under 16 believe that the recession has affected the way they think about their financial role as a parent, according to a report by Scottish Widows Savings and Investments.15-06-2010

12% have been saving more for their children since the economic downturn.

A new generation of worried parents has emerged. A quarter of parents with children under 16 believe the recession has affected their financial role as a parent a lot and are worried about how they will support their kids in the future. A further 20% believe their kids are going to need to put a lot more aside than they did when they were their children’s age and 14% of parents believe their children will need more financial support because of the effects of the recession.

This worry has sparked the idea to save more for their children. Since the economic downturn, 12% have been saving more for their children, with almost half of these parents (47%) doing so because they think things will be harder for them when they grow up thanks to the lack of job opportunities and the growing levels of unemployment. Almost a fifth (19%) think they will need to provide more for their children when they grow up as credit will be harder to get.

Not all parents are able to put more cash away though; 18% have actually started saving less for their children since the recession started. Half of this 18% of parents simply have less money to put aside for their children’s future, and 16% can only focus on getting by day to day at the moment.

The effects of the recession have led parents to become worried about how they help their children financially. Parents’ changing lifestyles and the economic environment mean they will not be able to provide as much as they hoped to support their children’s futures. The future of savings for these families is looking bleak, yet well over half (60%) of parents want to be able to leave an inheritance for their children/grandchildren. This means that parents need to plan their finances carefully so they can save for their own futures as well as being able to support their children now and through their adult years.

Source and thanks to www.money4media.com.

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