An interesting article from Perkbox.

The top 10 causes of financial stress

  1. Not having enough emergency savings for unexpected costs (56%)
  2. Feeling behind financially in comparison to those around me (41%) 
  3. Feeling that I will be unable to reach future goals, e.g. buying a house (39%)
  4. Feeling limited in my career/salary progression (37%)
  5. Struggling to afford special occasions like Christmas (33%)
  6. Not being able to retire when I want to (32%)
  7. Having to miss out on events and social occasions (28%)
  8. Not being able to meet monthly expenses (27%)
  9. The fear of losing my job (24%)
  10. Not being able to keep up with debts (20%)”

Number 1 isn’t at all surprising, with a quarter of adult Brits having no savings at all. I like Tandem’s ‘drizzly day’ idea of a £500 emergency fund (they analysed their customers’ emergency spending which usually came under £500). That’s far more damageable than the 3 months’ savings usually suggested.

I am surprised 9 and 10 don’t rank higher. If we do go into recession, as many predict, these may well become priority.

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