U ok hun? 11 money problems millennials face

New research reveals that 43% of millennials don't have any savings whatsoever, and other parts of the population are experiencing problems too.

New research from Samuel & Co. Trading reveals British people have a real problem understanding basic finance.

Moreover, it has further exposed a gender divide regarding attitudes towards money.

The research is based on a survey of 1,000 British citizens. 

Click on to read the key conclusions.

New research from Samuel & Co. Trading reveals British people have a real problem understanding basic finance.

Moreover, it has further exposed a gender divide regarding attitudes towards money.

The research is based on a survey of 1,000 British citizens. 

Click on to read the key conclusions.

Conclusion 1:

43% of 18-to-24-year-old Brits don’t have any savings to cover unexpected costs.

Conclusion 2:

81% of the population believe they're capable of managing their finances.

Conclusion 3:

77% of women do not have a five-year financial plan compared with 53% of men who do. 

Conclusion 4:

78% of women don’t know how much they pay into their pension every month.

Conclusion 5:

61% admit to not understanding financial vocabulary.

Conclusion 6:

A quarter of women feel ill at ease managing money, compared with only 14% of men.

Conclusion 7:

Three quarters (77%) of women don’t have any long-term financial goals, compared with 53% of men, who have a five-year plan in place.

Conclusion 8:

One third of women (35%) don’t know how much tax they pay.

Conclusion 9:

Conversely, half of the male population are aware of how much they pay into their pension (50%) and tax (55%) every month. 

Conclusion 10:

Nearly a third of women (28%) don’t understand the terms and conditions on their credit card, compared with 21% of men.

Conclusion 11:

Two-thirds of women (61%) admit they do not understand financial vocabulary compared to 38% of men.

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