Page 10 - Savings Psyche
P. 10

Knowledge and information

As detailed earlier in the report, there are significant
savings knowledge gaps at play. Although it may be seen as
a positive that 44% use money advice websites to keep up
to date (Figure 4), not one financial information source can
boast decent trust levels (Figure 5).

Figure 4. Sources used to keep up to date with financial information

Money advice websites (for example, moneysavingexpert.com)                                                                             33%  44%
                                           Banks/building societies (online)                                                       31%
                                                                                             12%                                29%
  Comparative websites (for example, moneysupermaket.com)                                                                    28%
                                         National newspapers/magazines                       12%                         26%
                                                                 Family members                                      24%
                                                             Friends/colleagues            10%
                                                                                                                     24%
                          Banks/building societies (on the high street)                             14%
                                                                      Social media
                                                                                           10%
                             Finance-specific supplements/magazines
                 (for example, The Guardian’s, Money, supplement)                              10%  16%
                                                                                      5%
                                            Independent Financial Advisers
                                                        Employer/organisation         7%              16%
                                                           Blogs/online articles         9%         15%
                                                                               Other
                                                              None of the above        6%            15%
                                                                                      5%            14%

                                                                                      1%                              Used to keep up to date
                                                                                      1%                              Trust the most

                                                                                                                14%
                                                                                                                14%

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