Financial worries 'affecting work'
Updated on 11 November 2009
Eight out of 10 people admit they feel anxious about their finances, with many saying their worries affect their performance at work, a survey has shown.
Around 5% of people say they have taken time off work during the past 12 months because of their money worries, while seven out of 10 people admit they spend time thinking about their finances when they should be working.
More than a third of those questioned said their financial concerns prevented them from performing at their best, with 4% saying they spend at least four hours a day worrying about money, according to insurer Axa.
The most pressing concern for most people is paying their bills and repaying debt, although 35% of those questioned said they were also worried about the economic recovery.
Just over half of people said they planned to try to save more, but 56% admitted they did not set aside any time each month to manage their finances.
Axa is calling on companies to give staff 15 minutes each week in which to manage their finances as part of its My Budget Day initiative.
Dudley Lusted, head of corporate healthcare development at AXA PPP healthcare, said: "Money worries have become more than a mild distraction amongst the UK workforce.
"Almost a third of employees already spend up to 15 minutes a day worrying about their finances, so it makes sense to allow them to use that time to address these issues - with the boss's blessing."
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