Over a quarter of Brits are pinning their hopes on a lottery win to wipe away their debt problems and help their financial situation, according to latest research.
With the chances of winning the lottery at fourteen million-to-one, you’re more likely to receive a phonecall from an alien who could tell you a way to deal with debt management issues than scoop the jackpot.
According to the study only 5 per cent said that they would seek professional help with their finances, highlighting the risk posed to people who may be faced with debt problems.
Nick Cann, chief executive of the Institute of Financial Planning, which commissioned the survey, said: “The results of our 2009 survey reflect the fact that many continue to bury their head in the sand by ignoring financial problems in the hope that they go away.”
Debt advice organisations have recommended seeking impartial advice, sooner rather than later.
Ivan Cooper, Chairman at leading debt management organisation Chiltern, said: “By contacting a reputable company and seeking impartial debt advice, mant debt problems can be prevented from developing into longer-term or mor eserious issues.”
The study by You Gov, also found that four out of 10 respondents said they needed to save more and reduce debts.
