By Sam Whybrow, Lubbock Fine Wealth Management LLP
A recent survey conducted by the Office of National Statistics into people’s ability to manage their money shows that only 1 Briton in 100 is truly financially savvy. It found that individuals did best at making ends meet and least well at planning. The Money Sickness Syndrome Report conducted by Axa in 2010 also found that 9 out of 10 adults suffer symptoms arising from stress over money matters.
Generally, our financial net worth and income has been eight times higher since 1900, yet people still suffer symptoms arising from financial stress. Having greater wealth does not improve well being. The past is littered with plenty of high profile examples to evidence this. Planning your future and being financially savvy not only have a positive effect on your balance sheet but also have the additional well being benefits too.
There are many challenges facing you today that could have a negative impact on your financial well being.
Click here to read my full article. It discusses these challenges and how you can overcome them, while at the same time positively affecting your future and recapturing financial control.
Being financially savvy means understanding your own financial position, your life goals, constructing a meaningful plan and forward planning so that you add purpose to your financial planning.
If you would like to improve your financial well being, please email me or call on 020 3119 3815.