💷 Feeling anxious about money? You’re not alone! Research by Moneybox reveals that millions of Brits are stressed about their finances. With the rising cost of living, half of us are feeling the pressure when it comes to our wallets.
A staggering four in ten people feel overwhelmed planning their financial future, and more than a third are keen to take control but unsure where to start. So, what’s at the root of this anxiety?
Professor Adrian Furnham, a psychology expert, explains that our money worries often stem from ‘inherited inertia.’ From childhood experiences like pocket money and observing how our parents handled cash, we’ve picked up subconscious messages—or ‘money-grams’—that influence our financial behaviours today.
Shockingly, fewer than half of us say we’ve had positive money influences from our parents, with many witnessing financial stress in their households growing up. Such experiences can make us overly cautious savers, leading to missed opportunities later on.
Professor Furnham advises that we must shift our thinking from avoiding risk to seizing opportunities to reach our full financial potential. By reprogramming our brains to focus on ‘opportunity cost’ rather than ‘risk,’ we can cultivate a healthier relationship with money.
Brian Byrnes from Moneybox suggests the key to feeling secure about money isn’t in making big leaps, but in taking small, informed steps. These promote confidence and help balance immediate needs with future priorities, making long-term financial planning accessible for everyone!
Are you feeling the financial pinch? Let’s turn money anxiety into financial freedom, one step at a time. 💪💰
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