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Lotto Win for Financial Security

Last Updated: Saturday 5th September 2009, 13:10 pm

Lottery Balls Concerning research published this week has shown that a quarter of all Brits are banking on a lottery win to improve their financial situation during the economic crisis, rather than seeking professional advice from a financial advisor. The research, by a well know financial planning company shows that many individuals lack confidence in their finances and actually wouldn’t know where to start when using a professional advisor.

The research is based on the views of almost 2,000 adults in the UK and shows that many see a UK Lotto win as the way out of money troubles while a massive 37% couldn’t see any benefits to using a financial adviser. Even though most were unhappy with their finances only 5% would see professional advice while a quarter thinks that a winning lottery ticket is the only way out.

The research shows how desperately people need sound financial advice but are not getting it and are relying on things such as price comparison websites and advice from friends, as well as buying lottery tickets in the hope of sorting out their financial problems.

When you consider the chances of winning the lottery are around one in 76 million it seems that while a lottery win is fantastic, it isn’t actually going to sort out the problems that many people are facing in the UK right now.

As much as we all love to play the lottery, and of course you have to be in it to win it, most people must be aware that this is not the answer to all your financial problems and while a lottery win would be nice, it shouldn’t be relied upon.
 

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