Four out of five adults (81 per cent) are concerned about making ends meet as living costs surge and three-quarters (76 per cent) need to take action to cope with the financial pressures, a report has found. According to the Scottish Widows report, over a third (35 per cent) plan to cut back on non-essential leisure and holiday spending.
Over half (57 per cent) of those surveyed said they were concerned about their finances in retirement, while half (50 per cent) do not feel they are preparing adequately for later life. One in nine (11 per cent) of those aged in their 50s reported being worried about having to access their pension savings early to support their short-term financial resilience, while nearly a quarter (24 per cent) had already dipped into their savings.
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