As 2024 draws to a close it is important for people to reset their finances and goals for the year ahead. Factors that impact your finances could have changed significantly over the previous year, so it’s always a good idea to regularly review.
“Managing money during the festive season can be challenging, but careful planning could make it possible to enjoy the holidays without getting into debt.” says Jonathan Watts Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist.
According to WEALTH at work’s research of over 2,000 workers, the biggest financial concerns for the year include not having enough savings for unexpected costs (40%), not being able to save enough for the future (38%), not being able to pay basic living costs such as rent, mortgage payments, energy bills, food etc. (34%) and being in debt (29%).
Scams Awareness Week will be taking place between 21-27 October 2024. Research from WEALTH at work found that 12% of UK adults have admitted to losing money to a financial scam in the last year.
New research launched today amongst 236 companies representing 1.3 million employees has uncovered insightful findings on current financial wellbeing provision, as well as foresight into future trends.
Between the 9th and 15th of September is UK Savings Week. In the current environment, it has become difficult for a lot of people to save as much as they would like, in fact, our research of over 2,000 workers found that the biggest financial concerns for the year include not having enough savings for unexpected costs (40%) and not being able to save enough for the future (38%).
In the last year, more than one in five UK employees (22%) have had to borrow money from family and friends because of money worries, and a fifth have taken on debt (20%).
WEALTH at work, a leading financial wellbeing and retirement specialist runs financial education seminars for graduates and those early on in their career for some of the UKs leading companies, to provide guidance on managing their money and explain the many workplace benefits on offer.
According to CIPDs Labour Market Outlook, 21% of employers are planning to make redundancies in the three months to September 2024.
Facing redundancy can be an intimidating time, therefore it is important people are aware of their rights and have a clear overview of their finances.