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Follow on Google News | Standard Life reveals financial commitments as significant as key emotional relationshipsStandard Life has revealed that for some people in the UK, financial commitments are as significant as key emotional relationships.
By: Standard Life Standard Life’s full 'Your Commitments, Your Future (http://www.knowyourcommitments.co.uk )' report can be found at www.knowyourcommitments.co.uk and defines how financial and relationship commitments change during a lifetime. It also investigates the different attitudes people have to different kinds of commitments. It found that while most consider their regular financial commitments, such as paying bills or contributing to a pension (http://www.standardlife.co.uk/ Other findings include: - Over three quarters of men (77%) who pay a mortgage are most likely to liken the relationship to the same as with a spouse, rising to four out of five women (83%). - Three in five men (59%) who have paid-for TV admit that they view their subscription as most like a ‘husband and wife’ relationship. - While the longest relationship people in the UK have tends to be with a partner or spouse, their longest financial commitment is held for just two years less on average over their lifetime. - The longest relationship for adults aged 18 to 24 is with a financial product, (two years and ten months, six months more than their longest relationship with a partner). - Men and women who have a partner spend just 50 minutes a day thinking about their partner and just over half an hour (37 minutes) a day thinking about the financial commitments we listed. John Lawson from Standard Life (http://www.standardlife.co.uk/ " We've identified three core commitment life stages, so people can see where they are in the financial and emotional commitment cycle. In that way, they are in a better place to plan their finances for the future and feel confident about what lies ahead." Psychologist Professor Janet Reibstein who worked with Standard Life on the report said: "An interesting aspect of this research is that people regard financial and emotional commitments as separate entities to be treated differently. Yet if people understand that financial and emotional commitments are linked, then they will be able to align their commitments with their aspirations." -ends- Notes to editors: All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2016 adults. Fieldwork was undertaken between 17th - 20th June 2011. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+). Methodology: About Standard Life: Standard Life is a leading long term savings and investments company headquartered in Edinburgh and operating internationally. Established in 1825, Standard Life provides life assurance, annuities, life insurance, savings products, investment bonds, tax efficiencies, pension products such as a self-invested personal pension, financial education and investment management to around 6 million customers worldwide. PR Contact: Nicki Lundy Standard Life Ground Floor Caledonian Exchange 19a Canning Street Edinburgh EH3 8EG 0131 245 2737 www.standardlife.co.uk End
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