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according to the insurance company ambiguous times A survey released this week found that 54% of the UK workforce feel insecure when dealing with personal finances.
27% of the UK’s largest companies with over 1,000 employees admitted to feeling ‘extremely anxious’ on a regular basis throughout the day. The company’s 2020 stats show him up 5%.
Millennials reported being most worried about money at 73%, followed by Gen Z at 69%.
This research suggests that this persistent anxiety level fosters financial neglect. Many of the young respondents who took part in the survey feel that they are not in control of their financial situation.
Of particular interest are the findings of research on intergenerational anxiety.
While many of the younger respondents were worried about their financial situation, many of the more experienced respondents who remembered double-digit inflation in the 1980s were more concerned about their children’s financial future. rice field.
49% of working parents in the UK say their children’s financial future is their biggest concern, which is why the survey recognizes ‘mothers and fathers’ banks’ as a strong source of financial resources. increase.
One in four grandparents are helping or plan to help their grandchildren buy their first home. Gives an average of 31,399.
Emma DouglasThe company’s Director of Workplace Savings and Retirement encourages people to understand that getting involved with their finances can give them insights that can help alleviate future problems.
I understand that we are all looking for ways to avoid facing the harsh economic realities right now, but ignoring our economic situation completely does not help, she explained. increase.
The research highlights the importance of the workplace as a forum for sharing financial advice and guidance to help people of all ages solve their money problems.
A primary source of income for most people, the workplace is an important environment that supports the financial journey of employees, continues Douglas.
Employers can often be considered a reliable source of guidance on financial matters.
It is important to share what we learn and work together across the business community to find ways to make tools and support more widely available to UK employees, she concludes.
