Money and Mind Report

With financial wellbeing becoming an increasingly important element of life, the aim of our report is to understand the condition of the UK’s financial wellbeing.

Our belief is that by identifying the factors that underpin financial wellbeing, the financial services industry can help individuals and their families improve their financial position by delivering relevant support at the right time.

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24% of UK adults say that they're more likely to create a financial plan as a result of the pandemic

52% of UK adults feel regularly or occasionally stressed due to their financial situation

67% of pension holders don't know how much they'll need to live comfortably in retirement

48% of over 65's are at least slightly concerned that their retirement pot won't last their lifetime

What is financial wellbeing and why is it important?

We believe that financial wellbeing isn’t about having the most money, it’s about having enough money to enjoy the things in life that make you happy. It’s also about being in control, having financial freedom and prioritising what’s important to you, and our findings confirm that you agree. Four in five (79%) of UK adults define financial success as having the financial freedom to do what they want without worrying.

This is the second Money and Mind Report we have published, and consistent with the findings in 2020, our finances and our mental health continue to be closely linked with over half (52%) of UK adults feeling regularly or occasionally stressed or overwhelmed due to their financial situation. This represents a small but present increase since our previous report.

Read our inaugural Money and Mind Report

This is why we’re passionate about ensuring individuals and their families are engaged with their finances and having regular, open and informed conversations about their personal circumstances. Our objective is to make advice more affordable and accessible to more people so that everyone can experience the power of having a personalised financial plan.

Financial wellbeing is something everyone can aim to achieve, and together, we’d like to help you get there.

In the spotlight

Our Money and Mind Report II

Our Financial Wellbeing Lead, Leigh Dunkley, considers the findings from our Money and Mind Report II. The report offers a view of the UK’s financial health and wellbeing by getting to the heart of what is important to the nation as well as what financial issues keep them awake at night.

Leigh is joined by Jason Butler, the UK's leading financial wellbeing expert, who shares his thoughts on the emotional aspects of money, along with the key differences between having financial troubles and financial worries.

Finally, one of our Personal Wealth Advisers, Katie Nutting, offers some practical hints and tips on how you can improve your financial wellbeing.

Financial wellbeing: the last taboo

As a nation we generally don’t like talking about money. Our finances are seen as complex, personal and something that shouldn’t be shared – particularly when we’re facing financial hardship. Money is one of the last taboos, however we all have a part to play in normalising the conversation.

Financial wellbeing: what you need to know

We believe financial wellbeing isn’t about having the most money, it’s about having enough money to enjoy the things in life that make you happy. It’s also about being in control, having financial freedom and prioritising what’s important to you - then you could be on the path to achieving financial wellbeing.