Money and Mental Health
We’ve all experienced the stress of living beyond our means, the pressure to secure our financial future, and nagging financial demands. But how do these concerns impact our mental wellbeing and, equally, how does our mental state impact our finances?
This report from Claro explores the link between money and mental health. It sets out to understand what can be done to better protect and maintain mental health through financial education, planning and taking better care of our money.
- Many UK adults don’t have a good understanding of basic financial principles. For example, 64% don’t understand the impact of inflation on their money
- The UK lags behind other countries when it comes to financial literacy levels (our average scores are 12% lower than France)
- A high income doesn’t always mean greater financial confidence. In fact, over one in 10 of those with a household income of £75,000 – £99,000 report having ‘low’ or ‘low medium’ levels of financial confidence
In partnership with Claro Wellbeing
A financial wellbeing benefit to support your team where it matters most