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23/04/2012 16:12:23

Don't fret about your finances, plan

New research reveals that Britons who worry about their finances save far less money on those who spend time on financial planning.

NS&I found that planners save an average of £104.39 per month, which is almost double the amount saved by those who worry (£53.47).

Of those who worry about their finances at least once a year, 41 per cent spend more time fretting than planning what investments they should make and 25 per cent admit to feeling guilty because they spend more money as a result.

Furthermore, ten per cent of those who say they worry about their finances at least once a day, only check their savings once a month.

John Prout, NS&I Savings spokesperson, said that worry creates a vicious cycle.

"Time is spent worrying instead of focusing on money management and finances suffer as a result, causing more stress," he explained.

"By planning ahead and taking active steps, we can take more control of our money and work towards saving."

Recent research by uSwitch.com found that 17 per cent of Britons are unaware the ISA allowance has increased from £5,340 to £5,640 for this financial year.

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