Uninformed Decisions

We do a lot of detailed research on financial psychology here at Amárach, but sometimes it helps to step back and see the bigger picture. In our January 2016 omnibus we asked a few questions about the extent to which people felt knowledgeable about a number of financial topics such as credit scores, pension, investing etc.

The results are sobering – while a third of people claim to know ‘a lot’ or ‘some’ about managing their finances, this falls back to as few as a fifth of all adults when it comes to investing or pensions. But the really alarming gaps are the ones between men and women, and between younger and older adults (though even among over 55s fewer than 2 in 5 claim to know much about pensions):