Brits put health, wealth and happiness on hold as economy bites
Research from Scottish Widows reveals 7 out of 10 British adults (70%, 34 million people) are struggling to devote enough time to their life priorities. The findings of the Scottish Widows third annual Priorities of Life Index reveal life has got worse for many, and people have even less time available to spend on their health, wealth and happiness than in previous years.
Health and happiness
The current climate is taking its toll on the nation's happiness, as overall the number one life priority most likely to suffer is having fun, with 45% of people missing out on enjoying themselves as much as they'd like. The second life priority most likely to be put to one side is keeping fit, with 44% of adults complaining that they are unable to keep fit as frequently as they would like. In relation to keeping fit, nearly four in ten (39%) are concerned about overlooking their health in general.
The year on year index also confirms that people's home life continues to take a backseat, with 14.2 million people feeling like they are neglecting it - an increase of 1.5 million since last year. Nearly a quarter of Brits (23%) are unhappy with the amount of time they can commit to their partners; an increase of 3% since last year.
Financial priorities
With many suffering from pay freezes and increased living costs, it is no surprise that financial priorities continue to suffer. Those stating their financial security priority level as below ideal sits at 38%; a 3% increase since last year. A third (33%) blamed their lack of financial security on their job not currently paying them enough, and a further fifth (21%) believe they just have too much debt to be financially secure.
Worries concerning financial security, coupled with a nation that's increasingly time-poor may also help explain the increase in below ideal levels of priority for holidays, which sits at 40%; an increase of 3% since last year.
Hopes for the future
Faced with the ongoing challenge to make ends meet, it's not just home life and finances that people wished they had more time to focus on, as nearly one fifth of people (18%) wish they had extra time just for themselves, a 5% increase on last year.
Catherine Stewart, savings expert at Scottish Widows said: "The economic situation is not getting any easier; in fact it would appear that life priorities are suffering, which is forcing people to neglect their health, wealth, and happiness.
"Taking control of your life and making an effort to reassess your priorities may seem an impossible task to many, but often one small change can have a positive domino effect and make a huge difference.
"Finances are an important place to start, for example, assessing your weekly spend to see where savings can be made.
"When it comes to sorting out your finances there is help at hand, it is a good idea to see a financial expert; not just for the financial benefits, but also for the peace of mind which comes with having a plan in place to secure your financial future."