Britons 'avoid tackling finances'
Despite concern over the onset of the credit crunch, one in four Britons admit to avoiding tackling their finances even if experiencing money woes, research has suggested.
A survey found that 55% of UK adults claim to be worried about tightening credit conditions, yet more than a quarter would not think of addressing their financial situation.
The study, released by digital TV service Freeview, identified six different personality types when dealing with economic instability.
Professor Geoff Beattie, head of psychological sciences at the University of Manchester analysed the financial attitudes and behaviour of more than 2,000 respondents to the poll.
Research found that the most common personality type was the "shrew" - someone who took careful stock of their money and searched around for the best deals. Around two-fifths of the group fell into this category.
Next in line were "drifters", with 29% reporting that they were happy to coast through the credit crunch.
"Ostriches", who tend to stick their head in the sand when it comes to money matters, accounted for 8% of people. They were marginally more common than "alarmists", who panic in the face of financial woes and "deniers", those aware of their woes but just ignore them.
The least common personality trait was that of the "opportunist" - someone who attempts to make a quick buck from others financial misery. They accounted for just 6% of respondents, according to the study authors.
Prof Beattie said: "The research threw up some interesting results - not least that while the majority of people claim to be shrewd savers, many are burying their heads in the sand when it comes to their financial situation.
"Overall Brits seem to have a high level of awareness of the oncoming credit crunch, but the trick now will be to look at money saving options."
