- 29
- Mar
The majority of Britons are financially unprepared in case of an emergency, a new study has revealed.
According to research by Birmingham Midshires, some 86 per cent of consumers claim they could not afford the cost of having a baby if either they or their partner unexpectedly becomes pregnant over the course of this year.
Meanwhile, 80 per cent of Britons reported they would face debt management difficulties if they were suddenly made redundant.
Director of savings operations Jason Robinson said: "It is alarming that so many people could struggle if hit by a financial emergency or unforeseen cost.
He added that making regular savings could save consumers "from those of life’s eventualities which are often guilty of pushing us into debt".
The study also revealed that 95 per cent of respondents claimed they would be "crippled financially" if they had to help support an elderly relative.
Earlier this month, a study by Scottish Widows revealed that Britons believe their mothers issue the best financial advice on areas such as personal loans and savings.
Interfinancial providing you with breaking finance news.
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