Do you have a money mate?
A new survey has found that three quarters of people in the South East admit they are happy when they feel good about their money
Yet only one in five have a money mate – someone to confide in about money matters
The research from the independent Money Advice coincides with the launch of a Money Chat campaign which aims to get people talking about money.
It runs until the autumn, offering free tips and tools to help people get their conversations started – online, over the phone, or face-to-face.
To launch the campaign the Money Advice Service surveyed more than 2,000 adults to determine how the UK population feels about a range of money matters, including the nature of our emotional connection with money, and how it affects other aspects of our lives such as relationships. Three waves of results will be published over the course of the campaign to reveal the state of the nation’s relationship with money.
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Money Advice Service chairman Gerard Lemos said: “We aim to revolutionise the way people in the UK manage their money.
“We believe encouraging people to feel comfortable talking about money is a key step in this process. This research tells us that people see the lifestyle benefits of managing their money but it is very worrying that so many people in the South East have no-one to confide in about their money matters.
“We are here to help everyone make the most of their money. They can talk to our advisers on the phone or face-to-face; and, using the personal action plan produced by our free online health check, they can identify a list of short and long-term money priorities which will help get the conversation started”.
Behavioural psychologist and author Professor Karen Pine added: “I welcome this campaign to encourage people to have conversations about money.
“The findings confirm the strong link between people’s financial health and their emotional well-being. We do not live compartmentalised lives, when our finances are in good shape the benefits spill over into our general sense of well-being.
“It is worrying that so few of us have someone to confide in about money matters..”
The Service’s free unbiased money advice is available nationwide - online at moneyadviceservice.org.uk and on the phone via 0300 500 5000.