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Brits 'need to plan for big life changes'

People in the UK are increasingly unprepared for what life might throw at them, new research has revealed.

A survey of the last two years has shown that 15 million Britons suffered financially through lack of forward planning, according to Abbey.

A third of life changes are unexpected, meaning that people may want to start being more prepared financially since 62 per cent of people encountered large disruptions in their life, the bank reported.

Some of the life-changing events included having a child, moving home, getting married or divorced, and illness and bereavement.

Nici Audhlam-Gardiner, head of mortgages at Abbey, commented: "We all know that it pays to be prepared but what's interesting is just how many people experienced a big life change in the relatively short period of two years.

"It's important to make sure your finances are in shape and able to withstand whatever events life throws at you."

Abbey reported yesterday that 99 per cent of people in the UK need a financial workout, with only 34 per cent of people having enough savings to last them for the next three months.

See how much you could borrow with an unsecured personal loan from Lombard Direct.

© Adfero Ltd

08/01/2008 12:24:39

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