Most Brits struggle with ethical finances, research shows

The majority of people try to live ethically but fall short when it comes to their finances, new research shows.

A total of 71 per cent of Brits said they generally live their life ethically however, a fifth of people said they make socially responsible choices for their finances, according to a survey by digital wealth manager Nutmeg.

More than half of people thought that making ethical financial decisions was important, but most said it is the most difficult socially responsible lifestyle to adopt with only 30 per cent of respondents agreeing it was easy.

Only 37 per cent of adults said they consider ethical options in relation to big purchases such as flights or a car.

Nutmeg chief investment officer Shaun Port said: “People are used to understanding what impact the decisions they make in their lives – whether it’s always recycling, walking or cycling to work and choosing more eco-friendly household appliances – can have.

“But when it comes to their finances, it’s often impossible for people to see how socially responsible their choices are and what impact they have.”

He added: “We interact with our finances on an almost daily basis, whether that’s our current account or card provider, pension contributions or investments.

"And with more people realising the importance of making ethical decisions across all aspects of their life, we want more to be done to show people the difference their investments could make and how they fit with choices they make elsewhere in their lives.”