People in the UK are unsure about how to invest their money, a study released today by the Future Foundation has shown.
Over a third of people, 38 per cent, said they don’t have enough knowledge, confidence, or available cash to make investments.
This is despite most people, 81 per cent, thinking they should take responsibility for their finances.
A quarter of all people surveyed said they didn’t feel confident in their ability to make good financial decisions.
John Tracy, chief executive of TD Direct Investing, who commissioned the research, said: “The main issue to address is education. Most people are familiar with banking products and cash ISAs, but not enough people are talking about investing and this is creating this sense of financial paralysis.”
Yorkshire and the North East have the highest proportion of unsure investors, making up 44 per cent of their respective populations, and the North West the least, with 31 per cent.
Those living in London were found to be marginally more comfortable investing their money than the national average, coming in at 37 per cent feeling unable to do so.