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rits increasingly looking online for financial advice
04
SEP
2014

Brits increasingly looking online for financial advice

An increasing number of people across the UK are looking to the internet for help with money problems, new research has revealed.

According to national charity Citizens Advice, around a third of the UK's online population sought advice on its website for help with their problems, with 78 per cent (12.4 million people) people doing so on the back of an internet search.

The charity found that just under half (46 per cent) of people said they were most likely to use internet search engines when in need of advice, while also claiming they were far less likely to ask their family.

Debt advice still in demand

Money was the top issue for just over half of respondents (51 per cent) over the course of the last 12 months, coinciding with the fact that Citizens Advice helped 1.6 million people with debt problems during that time.

The number of people looking for financial advice was recorded ahead of those worried about work (35 per cent), which was found to be second in the list of most pressing topics for those looking online for information.

Gillian Guy, chief executive of Citizens Advice, said: "Good advice can transform people’s lives. In this digital age we’re seeing a profound change in people’s first port of call when they need advice, as they choose to put their faith in the internet rather than the conventional wisdom of the people closest to them."

Women ask mum

Other key findings of the online survey included the fact that only a quarter (25 per cent) of respondents will seek advice from their partner or spouse.

When it comes to consulting their parents, women were found to be more likely to ask their mother for advice, while men preferred to ask their dad.

And Ms Guy hinted that despite improvements in the economy, there would still be a substantial number of people seeking out financial advice, adding that the charity's 75 years of experience meant it was well placed to offer help to those that need it most.

She added: "The economy may be improving but we know that for many people money is still tight as the benefits of the financial recovery are slow to trickle down. Employment figures are heading in the right direction, though for some people this means taking unstable jobs, for example on zero hour contracts, which can leave them in a precarious situation."

"As the life decisions people face grow increasingly complicated it’s more important than ever that we’re here for the next 75 years and beyond, ready to help people solve their problems."

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