Brits more likely to seek advice on household repairs and haircuts than on finances

Research released by unbiased.co.uk indicates that Brits are more comfortable in seeking advice on issues such as household repairs and haircuts than on their finances.

When asked which areas of their lives they would be happy to seek professional advice on, 60% of respondents stated household repairs such as ‘fixing or repairing their car’, followed by 48% who answered ‘fixing electrical items’ and 45% who said ‘sorting plumbing issues’.

When it came to financial advice however, only seeking ‘arranging my mortgage’ made the top five of areas that the nation would seek advice on (32%), meaning that more people would ask for advice on ‘cutting or dying hair’ (38%). This stat is extenuated when looking at the responses of females surveyed: only 36% would seek advice on their mortgage needs, whilst 52% would seek help on ‘cutting or dying hair’.

However, younger people seem to be more inclined to seek financial advice than their older counterparts, with the research showing that whilst only 14% of people in their 50s and 60s would turn to a financial expert for help, compared to 29% of people in their 20s and 30s. Over half of 20-somethings (55%) look for advice on mortgages, whilst only 32% of over 40s do the same.

Karen Barrett, Chief Executive, unbiased.co.uk, said:

“It seems as a nation we are more than happy to ask for expert help when it comes to our home and our appearance! But at the same time we shy away from seeking advice on crucial areas of our lives where expert advice could make a real difference. Seeking independent financial advice on your finances – whether it may be mortgages, retirement or savings and investments – is an invaluable step in making sure you are getting the right advice and the best solutions, both for you and your family’s financial requirements.

“It is understandable that people may naturally shy away from the often daunting task of sorting out their finances, but by using an independent financial adviser, you can entrust an expert to research the whole of the market and make specific recommendations for your individual circumstances. You also have the added reassurance that a qualified expert is dealing with your financial affairs.”