Friday 2nd March 2007
Although financial concerns are a major worry for many Britons, this declines following retirement, research has found.
The Lifestyle Report, compiled by Abbey, found that 24 per cent of people list money as their largest single cause for concern.
However, the level of worry expressed by respondents declined as they grew older, from 38 per cent of students to 12 per cent of people in retirement.
Sue Hayes, spokesperson for the financial services provider, said: "People are generally positive about their quality of life."
"The real concern for people is money and we are hoping that this is a signal that people are planning to get more engaged with their finances," she added.
While students expressed the greatest level of concern, they were also found to be the most optimistic, with 49 per cent anticipating a better quality of life in the coming year.
Meanwhile, those in retirement were most pessimistic, with 79 per cent stating they do not expect their quality of life to improve in 2007.
Parents wishing to save for their children are encouraged by Abbey to consider child trust funds and the firms own childrens savings bond, which offers a four-year fixed interest rate deal.
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