MOST Scots are resisting the temptation to reduce their investment levels despite growing pressure on personal and household budgets, new research has suggested.
Just 16 per cent of Scottish savers aged between 30 and 60 are cutting back on investing in equities, according to a Mori survey commissioned by IFA Bestinvest.
Instead, a third of those surveyed are making a conscious effort to reduce the amount they spend on fuel, while 28 per cent are trying to limit their energy consumption and almost a third are trimming their household food bills. The research also said that almost half of Scots aged between 30 and 60 are socialising less in an attempt to cut costs, while a quarter have reduced the amount they plan to spend on holidays.
“What we’re seeing is a distinction between long-term goals and the short-term need to cut costs,” explained Paul Fox, head of investment advice at Bestinvest.
“Most Scots are financially savvy enough to know that pulling out of the stock market now is not a smart move – they’re in it for the long-term.”
