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What stresses you out?

45% of British people say that money is their single biggest cause of stress.
Here you’ll find some honest stories about what stresses us out, and some practical ideas to help.

"I know I need to put money away each month,
but the more money I get the more
my expenses seem to grow". 

John tells us how he struggles keep his expenses in check despite the rise in earnings. Anna admits that money is the main source of tension at home. The good news is that there are practical steps that can help put things in order. 

 

 

Managing money stress - help and ideas

With money such an acute cause of stress for many of us, here are some ideas to consider and places you can go for help. 

  • The Money Advice Service
    A free Government-funded service with lots of impartial help and online calculators. Especially good if you are struggling with debt. 

  • Pensions Advisory Service
    Another free, Government-funded service which will help with unbiased advice about pensions. Helpful, well-trained people are on the phones to take your call.

  • The State Pension forecast tool
    Running out of money in retirement is a major worry. The Government has a simple online tool which will tell you how much your State Pension is likely to be. Understanding what you have is the first step to take. 

  • Budgeting
    Making it through to the next payday can be a headache. But there are some great budgeting apps which help you to set up and implement stricter measures to manage your cash. Have a look at Squirrel or Yolt.

Holly's tip: "Try and pay off expensive debt first. This can include things like payday loans and credit cards. Mortgages and student loans will generally have better interest rates so are not the first thing to tackle.

Most financial advisors suggest building a cash buffer of 3-6 months' income in easy access cash - money to cover you when the unforeseen happens. Clearing debt and building a cash 'safety blanket' are two key goals to tackle before you even think about longer-term savings or investments."

 

Managing mental, physical and financial health

Investor Pulse- what you told us

Every year, BlackRock ask people from all over the world, including the UK, how they think and feel about their financial health.


This year, they went deeper than ever before to understand the connection between our financial health and well-being.

Conducted at a time of unique political, cultural and social upheaval, this edition of BlackRock’s Investor Pulse seeks to better understand how these forces affect financial health.

Here is what you said:

  • 45% of Brits say that money is their major cause of stress
  • After that it's health (35%), work (31%) and family (31%)
  • 54% say that high costs of living are their top concern and after that it's the state of the economy
  • The third biggest financial stress is running out of money in retirement 

Visit BlackRock to learn more about Investor Pulse.