Less than half feel in control of their finances, research finds

Less than half of people say they feel in control of their finances, research has found.

Just 44% feel as though they are in charge of their money, according to credit reporting agency TransUnion.

More positively, more than half (53%) of people surveyed across the UK want to improve their financial situation in the next 12 months and can see a path towards making it happen.

More than three-fifths (62%) are confident that their financial situation will remain stable in 2020.

The majority (61%) also believe their finances are robust enough that they would be able to withstand a financial shock, according to the research.

Satrajit Saha, chief executive of TransUnion in the UK, said: “Our analysis shows a clear need for more education around credit and finance among consumers.”

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