Royal London Pensions  

Financial woes causing nightmares for one in four people

Financial woes causing nightmares for one in four people

Money worries are a causing one in four of the population at least one nightmare a week, a poll has revealed.

A survey by Royal London has found that a massive 41 per cent have said they are anxious about money, while 23 per cent of people claim they suffer from nightmares once a week or more frequently because of financial woes.

Interestingly, a total of 31 per cent have said they have changed something in their life or based a decision on a dream or nightmare.

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Mona Patel, Royal London’s consumer spokesperson, said: “Financial worries don’t just affect our waking hours, as our research shows they are creeping into our subconscious and giving us nightmares.

"Keeping on top of your finances can make you feel in control and ease your worries. Start with simple steps by keeping a spending diary and setting a budget which can help you towards getting your finances in order.”

The data, which quizzed 1,055 people earlier this month, found that one of the most common types of dreams involved teeth falling out, which was experienced by 18 per cent of respondents.

This is because teeth symbolise power and confidence.

The data also shows a gap between men and women when it comes to dreams, with 56 per cent of men having based decisions or changed something in their life after a dream in comparison to 27 per cent of women.

A total of 44 per cent of men suffer from nightmares once a week or more frequently in comparison to 17 per cent women.

Dream psychologist, Ian Wallace, said: “Our dreams are how we naturally make sense of all the information and experiences that we unconsciously absorb every day.

"They are not just some random occurrence but actually a deliberate process, enabling us to draw on our past experiences and then use them to make the most of future possibilities.

"Dreams provide us with meaningful insights into specific challenges that we may be encountering in our day-to-day lives."

This comes as FTAdviser reported in June that pension freedoms have led to more than a quarter of advisers upping the minimum asset levels they require of clients, in order to deal with the extra demand generated by the changes.

Some 27 per cent of advisers surveyed by research firm AKG said the minimum investible amount or pension fund size they required of clients had risen because of the freedoms.

Gemma Siddle, chartered financial planner at Newton Aycliffe-based Eldon Financial Planning, said: "Finances are such an integral part of our lives that it is not surprising people often go feel anxious or concerned about them.

"However, it is important to know whether or not it’s their situation that’s making them anxious or simply their feeling that they don’t understand enough.

"Coming from an informed perspective, even in a difficult financial position, can give people a sense of understanding and control. This in turn lifts anxiety and allows people to take the steps they need to so that they can move to an improved position."