17
Jan
More time spent looking for holidays than mortgages
New research has revealed that many Brits spend more time choosing
their holiday than their mortgage, despite purchasing a home being
one of the biggest financial commitments most people will
make.
Personal finance website Fool.co.uk commissioned the research and
found over a third (36 per cent) of Brits spend at least ten hours
selecting their ideal holiday but only a fifth (21 per cent) would
put the same time into choosing a mortgage.
Almost half (45 per cent) of the 2,000 respondents to the survey
said they felt overwhelmed by the choices available to them and
find it almost impossible to navigate their way around an
increasingly complex money maze.
David Kuo, head of personal finance at Fool.co.uk, says: "Who can
blame people for wanting to spend more time planning their holiday
than pouring over financial products? But while a good holiday will
recharge your energy levels for a few weeks, healthy finances can
boost your bank balance for a lifetime.
"By taking a bit more time considering such things as your
mortgage, you could save up to £3,000 in one year to pay for
the dream vacation you’ve yearned for but never quite been
able to afford."
