The survey found that although some people are planning to increase the amount they save one in six are planning to have an expensive holiday and around one in seven expecting to buy a new car.
31 per cent of respondents intend to ‘be more careful with their finances in 2002’, but only two per cent are planning to reduce the risk in their investments, only five per cent plan to increase their life assurance and only two per cent plan to increase their health insurance.
These figures show an indifference to the threat of a deepening recession and potentially unemployment, which could leave many people in difficulties with their mortgage if the worst came to the worst.
Liz Walkington, communications manager at RJ Temple, said: "The research shows that many people are still neglecting the need to make plans for the future and to protect against ill-health. Protection is one of the first things we recommend that people consider when they come to us for advice. It seems that most people think the best way to ensure financial security is through general saving - but without protection, they may not be able to enjoy the benefits."
