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Brits waste two years worrying about debt

The average Briton wastes about two years or 16,848 hours of their lifetime worrying about debt, research out from The Co-operative Bank claims.

As a nation that equates to some 13 billion hours every year spent fretting whether we’re going to go into the red.
 
Some 48% of the 3,000 UK adults surveyed on behalf of The Co-operative Bank say they’re either concerned or deeply concerned about their increasing levels of debt. And 80% of people confessing to being troubled about their lack of savings.

Scott McPhail, savings product manager at The Co-operative Bank, says: “It is worryingly clear from the research that the vast majority of UK adults are deeply concerned about their finances, with rising levels of debt and inadequate saving provisions responsible for countless sleepless nights nationwide. 
 
He adds: “At The Co-operative Bank we would like to stress to people that it’s never too late to regain control of your finances – taking full advantage of your tax-free savings allowance before April and investing as little as a pound in a cash ISA is one way that you can help to ease the strain.”

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