Monday 31 October 2016
David Haigh, Director of Financial Capability for the Money Advice Service comments in response to Building Resilient Households report:
“Unplanned life events such as long term illness can have a serious financial impact on households .Our own research found that 4 in 10 people across the UK lack £100 in savings to cover unexpected costs and 65% of people are exposing themselves to financial risk by failing to consider protection insurances.
“Planning for the future is a critical part of the UK Financial Capability Strategy. We need to work closely with organisations involved in helping people with their money to build the financial resilience of households across the UK to prevent them falling into financial difficulty in the future.”