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Follow on Google News | Confused.com reveals that 14% don't know what an ISA isConfused.com has revealed that 14% of Brits don't know what an ISA is
By: Confused.com The research revealed that 7% of people though it was text speak from "I'm so awesome", 5% thought it was a new Australian boy-band and 2% thought it was an isotonic sports drink. When asked how much could be saved into a cash ISA (http://www.confused.com/ Research also revealed that only 51% of savers have used this year's ISA entitlement. Given that 22% of respondents said their main savings goal was retirement and a further one in five (20%) said they were saving towards a deposit for a house, Confused.com voiced it's concerns that so few were making use of their tax free allowance to help them achieve these long term goals. Head of savings at Confused.com, Chris Griffiths, said: "It's worrying that 14% of Brit's don't know what an ISA is given that they've been around for more than a decade. It's even more of a concern that two fifths of people have never had one and that 51% haven't used this year's allowance. An ISA really should be the first port of call for your savings (http://www.confused.com/ Other findings showed that 18-24 year olds are the least likely to have an ISA, with 50% admitting they've never had one while 9% of 25-34 year old's thought ISA was a text speak abbreviation. Those aged 45-54 (96%) and 55+ (95%) were most likely to know what as ISA was and correctly identify the cash limit (63% and 62% respectively) About Confused.com: Confused.com is one of the UK's biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards (http://www.confused.com/ Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com's service is based on the most up-to-date information provided by UK suppliers and industry regulators. Notes to editors: Research conducted by OnePoll on behalf of Confused.com December 2010. PR Contact: Zoe Stevens PR Manager Friary House Greyfriars Road Cardiff CF10 3AE 02920 494393 www.confused.com End
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