Retirement funding ‘biggest cash worry’

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facing retirement without enough money is the biggest financial fear for people in Yorkshire and the Humber.

When asked what their biggest money worry is for a survey by Top Cashback, 40 per cent said it was not having enough to live off in retirement, with 95 per cent of those citing a lack of savings as the reason behind their fear. Eighty-six per cent admitted they were worried they wouldn’t have enough cash to retire at all.

The survey found that falling into debt is also a huge financial concern for 39 per cent of the population, while 34 per cent worry about not being able to afford a comfortable lifestyle.

Living payday-to-payday (34 per cent) and not having enough money to cover monthly expenditures (30 per cent) were also listed as other top financial fears.

Natasha Rachel Smith, consumer affairs editor for, said: “Finances can be a very tricky and daunting subject, particularly areas such as pensions, investments and even day-to-day money management.

“Many people can have a tendency to ignore financial matters because they find them too difficult to understand or because they don’t fully appreciate their financial situation.

“However, there are some simple measures that consumers can use to take control of their finances and ultimately, feel more financially confident. By evaluating their financial circumstance, checking credit scores and reviewing their monthly income against their outgoings, people can start to get to grips with their financial status.

“When it comes to money management, people can take advantage of comparison tools and cashback sites to ensure that money spent on essentials such as the weekly shop and insurances is stretched as far as possible, generating savings and getting money back which helps not only to balance the books, but also to support a healthy financial future.”

Confusion and a lack of understanding could be at the root of people’s money worries.

Out of the 42 per cent of those questioned who have struggled with making the right financial choices, more than half blame their wrong decisions on not fully understanding their financial situation, while 55 per cent said it was because they did not realise the consequences of their bad spending and saving habits.

Of those surveyed, 41 per cent said they had mismanaged their money in the past. 53 per cent of those people blamed their poor money management on overspending and taking out loans they could not pay back, 51 per cent said they were living outside of their means and 34 per cent did not realise the consequences of not having enough savings.


1. Not having enough money for retirement.

2. Falling into debt.

3. Not being able to afford a comfortable lifestyle.

4. Living payday-to-payday.

5. Not having enough money in savings to cover monthly expenditures.

6. Not being able to save money.

7. Having no disposable income.

8. Identity theft.

9. Living beyond your 

10. Missing mortgage/rent payments.