Stress factor inhibits home buyers

Almost two-fifths of UK adults have decided against going through with buying a home or achieving other important life milestones because they can’t handle the stress.

And almost a quarter of people say financial issues are the most stressful part of their daily life, more worrying than transport delays or managing a hectic schedule.

Anxious about outcomes

New online research by the Halifax has revealed that 39 percent of those quizzed pulled out pursuing a big dream in life, such as buying a house, changing jobs, getting married or becoming a parent, because of the stress and anxiety about the outcome.

Concerns about their personal finances occupied the thoughts of 23 percent of people, but almost four in five (77 percent) said their worries were eased by the use of technology, such as online banking, easy-to-use apps and access to money advice.

Life goals unchanged

Russell Galley, Halifax managing director, said: “The way we do our banking is evolving, but our life goals remain unchanged. And by making banking more straightforward, we can help ease customers’ financial stress.

“We want to encourage people to talk to use about their financial issues, helping them avoid unnecessary worry, whether that’s with day-to-day banking or saving for future important milestones such as getting married, moving house or planning a holiday.”