1 in 4 Brits seem to be pinning their hopes on winning the lottery to sort out their financial situation according to a YouGov survey commissioned for Financial Planning Week 2011. This is a scary statistic when you consider that your chance of winning the national lottery jackpot is 1 in 14 million, whereas a middle aged man has a greater chance of dying within the next hour according to published author and mathematician John Haigh http://plus.maths.org/issue29/features/haigh/

Only 14% of women and 23% of men felt that they were satisfied with their current financial position yet many were still not settting themselves a budget, the starting point for a financial plan. 29% of men and 22% of women surveyed this year were not budgeting and only 45% of people  reported that they had a financial plan which they had drawn up and reviewed regularly. 

Looking to the future only 19% believed that they were saving enough for retirement, 14%  had never made any pension contributions and a further 31% are not contributing to a pension plan of any sort but have done in the past.

The survey certainly points to the fact that many people would rather bury their head in the sand and take a punt on the lottery, than really address their financial situation.

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