Over-65s urged to talk finances

ONE in six over-65s have no-one to talk to about money issues, Age UK has found.

Some 16 per cent of people surveyed in this age group say they do not have anybody they can discuss finances with.

People who were single were more likely than those who were married or living with a partner to say they had no-one to discuss money with, Age UK found.

Nearly a third (31 per cent) of single older people had no one to discuss money with, as did 21 per cent of widowed, divorced or separated people.

But despite being married or living with a partner, 7 per cent of over-65s in this situation also said there was no-one they could talk to about money.

The findings were released to mark Talk Money Week, which encourages people to discuss the subject.

Age UK found that although the vast majority of over-65s surveyed feel in control of their day-to-day finances, 17 per cent said they are just getting by or finding it difficult to manage on their weekly income, rising to 23 per cent of single over65s

ne in seven (14 per cent) over65s surveyed are more worried about their financial situation than this time last year, with one in 12 (8 per cent) saying they would find it difficult to pay an unexpected bill of £200 to replace an essential item like a washing machine or cooker.

As part of Talk Money Week, Age UK is urging any older person who is struggling to stay on top of their finances, or just needs someone to talk to, to get in touch via www. ageuk.org.uk/lets-talk-money.