UK ADULTS are most likely to turn to online and TV experts when planning their financial future.
The revelation comes after new research from Quilter finds.
More than a third (35 per cent) said they used this source, such as Money Saving Expert Martin Lewis, when they managed their finances. Next were comparison sites which 30 per cent said they turned to.
For Generation Z (18 to 24-year-olds), the research suggested family was the most popular option. Four in ten (39 per cent) said they preferred to use family members for advice compared to trusting in TV experts (26 per cent).
Similarly, 44 per cent of 25 to 35-year-olds said they were more likely to use family members. Just over a quarter (27 per cent) of all adults with financial concern said they did it alone.
A third of 55-year-olds and over said they were most likely to go it alone with their money. Those use nothing in particular in their planning.
Researchers suggest this is perhaps a sign of increased financial knowledge.
Rachael Griffin, tax and financial planning expert, said: “As technology has become so embedded in modern day life, it is natural for people to turn to sources either online or on TV.
“However, while these experts are great at recommending energy deals or insurance, they cannot provide the answer to everything and will often only give generic one size fits all guidance.
“It is also interesting the research highlighted the role families play in providing financial knowledge and security.
“Younger generations’ habits are often formed by what their parents did and as such it is natural that they want to seek their advice on financial matters.
“Planning finances across multiple generations is a great way to build on that knowledge and ensure the family unit can work together for each other as well as themselves.”
