When something isn't working in your life, it can impact everything including your family, your health to your job. Unfortunately,14 million people in the UK are stressed about money.
Part of the problem is lack of confidence. According to research by the Financial Conduct Authority less than 4 in 10 people feel confident about their money. Education can help. The basics of saving and investing are typically absent from the education system, and yet these are crucial life skills.
Providing resources to employees to help them better understand the basics of saving and investing can set them on the path to a better financial future.
Fortunately, Moola is responding to this need making educational content a freely available part of its offering, using plain English and avoiding the jargon that so-often plagues financial services. Content is offered in short articles and videos making it easy to consume.
The government is looking to support saving with ISAs creating a relatively simple way and tax-free way to encourage saving. However, consumers are often unaware of the important ISA season and deadlines. Plus, cash ISAs are still the most common. Though cash ISAs can be a useful way to control risk, they can often mean missing out on returns for those investing over the longer term with different types of ISA.
Lack of financial education is stressing out employees and hurting their productivity. Yet, a few simple steps can put employees on the path to financial wellbeing. Fortunately services such as Moola combine education and easy-to-use savings to help eliminate financial stress.