Country residents 'not saving or taking out life insurance'
Many rural residents are not putting money aside in savings, insurer NFU Mutual has claimed.Research from the firm found that just 25 per cent of country dwellers are saving - while, by contrast, 20 per cent are spending more than they earn each month.This could lock the residents into a debt spiral, with the big spenders finding themselves unable to meet credit repayments.Moreover, 44 per cent said that life insurance was not a "priority" for them at the moment.Laura Wood at NFU Mutual suggested that this could be due to the close-knit nature of rural communities."The fact that only a small proportion of rural dwellers view life insurance as a priority is a huge worry," she commented. "They may believe that living in a rural community provides them with closer links to their wider family and friends who would take care of their dependents if the principal wage earner was not around."
Share this..
Related stories
Royal Mail shares rocket
11/10/2013 Royal Mail shares rocketed by as much as 38% at the start of conditional dealings, peaking at 456p per share, from an original pricing of 330p per share. The first day of conditional dealings of Royal Mail shares on the London stock exchange saw shares rocket, pricing the company at over £3.3 billion, raising debates that the privatisation of the Royal Mail was undervalued. However...
Read MoreMany ISAs subject to local restrictions
As many as one in nine ISAs are subject to local restrictions, Abbey has warned.Attractive cash ISA accounts appeal to many savers and investors, but more than many people are aware are restricted to local people, according to the bank's research.Reza Attar-Zadeh, head of savings and investments at Abbey, said: "It seems amazing that so many accounts have bizarre local restrictions, which could m...
Read MoreRecession Watch : The US economy
While there is no doubt that the US economy has taken the worldwide economy into a recession and on the verge of a depression, many people believe the US economy will also lead the world out of recession. Prior to the appointment of Barack Obama as President of the United States of America there had been growing pessimism about the future for the US economy and the US as a whole. However, Barak Ob...
Read MorePrivate care home capacity falling in the UK
The Local Government Association (LGA) has revealed a stark reduction in the number of private nursing home places available in the UK. The ongoing recession would appear to have hit private nursing homes hard as more and more of the UK population struggle to find the funds required to pay for the service. A survey by the LGA has highlighted the fact that 15% of local authorities in the UK are alr...
Read MoreParents put pocket money first
Parents prioritise giving their kids pocket money over saving for their future, according to a new survey.According to the findings by Engage Mutual, parents much more likely to give their children pocket money than they are to put cash in a savings account for them - 48 per cent of parents with children under the age of 25 give them pocket money, compared to just 32 per cent who save for their f...
Read More