Brits reveal not saving enough cash is one of their big regrets

FINANCE: Research into money woes

Not saving enough cash, having a paltry pension pot and getting into debt are Britons’ biggest financial regrets, research has found.

Being unable to work or earn more in their job, delaying buying a house, taking bad advice from family or friends and getting divorced were other common money mistakes, according to the findings from insurer Partnership.

While one in 20 (5%) people had no regrets about their money decisions, the vast majority of people wished they had made different choices, the research found.

Two-fifths (40%) of people wished they had saved more cash, while a further 19% regretted not putting more money into their pension.

One in six (15%) people regretted digging themselves into debt, while one in 10 (10%) had been influenced by family or friends to make poor financial decisions, by following bad advice or lending money, for example.

One in 14 (7%) people surveyed also said that getting divorced had been a big financial blunder, while the same proportion regretted delaying buying a house.

One in nine (11%) people wished they had been able to work more or earn more in their job.

And 9% of people regretted making an investment that had not performed as well as they had hoped.

The research found that people aged between 18 and 39 were more likely than those over 40 to have regretted not saving enough money.

Those aged over 40 were more likely than the younger generation to have regretted not saving more into their pension.

There were also regional variations among the 2,000 people.

People in Scotland and Northern Ireland were particularly likely to regret not saving enough, while those in London and Northern Ireland were particularly likely to regret not saving more into their pension.

While those in East Anglia were particularly likely to regret getting into debt and not working or earning more in their job.