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We are deeply saddened by the passing of Her Majesty, Queen Elizabeth II. Our thoughts are with the Royal Family at this sad time.

Half (50%) of 18–34 year olds say the increase in the cost of living has meant that they have reduced or stopped any regular savings.

The Association of British Insurers found an estimated 1.6 million pension pots are sitting unclaimed because they’ve been simply lost or forgotten about.

Jonathan Watts-Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist, comments…

A survey of 2,000 UK adults was conducted by WEALTH at work, a leading financial wellbeing and retirement specialist. It asked people if there was anything they wish they had done differently when it comes to their finances, and what they wish they had known.

The cost of living crisis is affecting many people. Pay rises are one option to help people cope, but this is not always possible, and even if it is, companies are unlikely to be able to keep up with rampant inflation.

Over two fifths (42%) of UK adults say the increase in the cost of living has meant that they have reduced or stopped any regular savings.

A fifth (21%) of individuals have experienced someone trying to scam them out of their money, savings or investments.

Nearly half of UK adults (47%) say that financial worries impact their life and more than a quarter (26%) say that it makes them feel depressed and anxious, rising to more than a third (35%) of 35-54 year olds.

Cryptocurrencies are rapidly gaining popularity amongst investors due to being advertised as ‘get rich quick’ investments. They have particularly increased in attractiveness since the pandemic, with many people feeling obliged to take on greater risks to compensate for the economic uncertainty and concerns caused by the rising cost of living.