Personal Finance. Money. Investing.

Consumers Expect a Financial Crash ‘Worse Than 2008’ This Year

Consumers are bracing themselves for a major financial crisis and housing crash this year according to a new poll from Spearvest, the wealth management firm.

Posted: 22nd January 2019 by Finance Monthly
Share this article

The study, conducted by independent survey company Censuswide asked 1,000 members of the UK public about their views on the economic outlook for 2019.

A total of 44% of respondents said they expected a financial crisis worse than 2008. Additionally, over a third of those polled (41%) said they are expecting to see a housing crash happen this year.

Only 14% of the population said they had forgiven the banks after the 2008 financial crash, according to a new poll from Spearvest, the wealth management firm.

As well as this, there is a significant distrust from consumers that banks have their best interests at heart. The survey found that over half (55%) did not believe this to be true, with only 13% believing they did.

The poll also found that consumers want banks to do more for good causes with 60% believing that banks should donate and fundraise for charities more.

Wael Al-Nahedh, CEO of Spearvest comments:“With widespread concern around the performance of the housing market and the wider economy, 2019 already looks set to be a challenging year for investors. It’s also clear that the financial services industry needs to do much more to win back trust of the public, supporting good causes and demonstrating a genuine commitment to charitable giving.”

(Source: Spearvest)

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram