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Graduates 'worrying the hours away'
Tuesday, 04 March 2008
Life after graduation
New research has revealed that graduates are spending a substantial amount of time worrying about their finances.
The study was conducted on behalf of the Co-operative Bank and found that undergraduates, recent graduates and those at an early stage of their career spend nearly two days per month fretting about money matters.
Almost one out of two graduates stated that they allocate around ten hours or more per week to balancing their accounts.
Commenting on the findings, Scott McPhail, savings product manager at the Co-operative Bank, said: "It is worryingly clear from the research that the vast majority of UK adults are deeply concerned about their finances, with rising levels of debt and inadequate saving provisions responsible for countless sleepless nights nationwide."
The research also revealed that women are more likely to worry about financial matters, but are less likely to have a savings product than their male counterparts.
In 2007, the Co-operative Bank had an annual turnover of around £9.4 billion and some 87,000 employees.