The 30 Best Simple Money Tips You’ll Ever Hear

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The 2,000-adult study found “save for a rainy day,” “stay on a budget,” and “be open with your partner about your spending habits” as other popular financial wisdom gems.

Other money-related tips that have been found helpful include “don’t go shopping on an empty stomach,” “sleep on a big financial decision”, and “ask for help”.

While others have been warned to “pay off their debts rather than spending on luxury items” and not to “make financial decisions while feeling angry”.

More than eight in 10 adults are happy to ask other people for help, with financial advisers, banks, and parents all seen as accessible.

Alex Partridge, wellness ambassador for financial wellness provider Wagestream, who commissioned the study, said: “When you’re young it’s easy to ignore other people’s advice about money – but it’s easy. It is important to consider financial planning from an early age.

“These pearls of wisdom are a great start for anyone feeling overwhelmed by financial stress – and a reminder that financial education is most effective when it is timely, personal, and easy to implement.”

The study found that many of those who turned to others for advice were told both to stretch financially at a young age and to set realistic savings goals.

“Never go into business with family or friends,” “never lend money to family or friends,” and “invest in real estate” are also listed.

Parents and grandparents are considered the wisest financially, with 38% saying the best advice they’ve ever received came from them.

But when financial help is needed, around 30% go to a financial advisor and the bank, while just over a quarter go to parents / grandparents and a fifth look for answers on Google.

And of those who wouldn’t go to someone for advice, almost 30 percent are already confident in managing their own money, while almost a fifth would not trust someone else.

Of those surveyed by OnePoll, 60% agree that there is a gap in support for financial advice from adults, while almost two-fifths see financial advice as “primarily for the wealthy.”

And 83 percent of workers would like to have received more financial education after leaving school, and about half want their employers to give them more access to confidential advice.

One in ten fears that seeking financial advice is expensive, and within it, there is a huge gap in confidence in money – seven percent of those who have no money. savings have confidence in their money; while half of those with over £ 10,000 feel confident and don’t need help.

The past year of economic uncertainty has not helped for many, as 46% have worried about their financial well-being and 40% feel less financially stable due to the pandemic.

All of these money worries have had a serious impact not only on finances, but also on health, with more than two-fifths noting that their mental health suffers from financial problems, resulting in anxiety, stress, depression, inability to concentrate on the job. work and problems. sleeping.

And among them, 60% saw their physical health suffer, feeling nauseous, suffering from headaches and even muscle pain.

rPeter Briffett, CEO and co-founder of Wagestream, which recently launched a confidential financial coaching service for UK workers, added: “The financial education gap has been too big, for too long.

“Poor financial well-being is not just an urgent health crisis, it is also an economic crisis – which is impacting people and employers across the country.

“We know organizations want to do more, and now we know people want this support from financial guardians they trust – like their employer. It’s time to close the gap.

TOP 30 FINANCIAL PEARLS OF WISDOM

1. Pay your bills and avoid going into debt

2. Save for a rainy day

3. Start saving at a young age

4. Spend less than you earn

5. Avoid Credit Cards If You Can Help It

6. Stick to a budget

7. Pay off debts rather than spending money on luxury items

8. Pay off your mortgage as soon as possible

9. Teach your kids about the value of money

10. Don’t go shopping on an empty stomach

11. Save first, spend later

12. Don’t spend everything after payday

13. Teach your own kids to budget from an early age

14. Plan your retirement rather than putting your head in the sand

15. Sleep on a big financial decision

16. It’s good to ask for help

17. Never lend money to friends or family

18. Be open with your partner about consumption habits

19. Set a savings goal

20. Invest in real estate

21. Never go into business with family or friends

22. Put 10 percent of everything you earn into savings

23. Start thinking about your retirement before your boss.

24. Don’t make financial decisions when you are angry

25. Invest in stocks and stocks

26. Don’t spend everything in one place

27. Save half, spend half

28. Stretch financially at a younger age

29. Don’t work long hours, save it for when the kids are out of the house

30. Invest in cryptocurrency

For more stories of where you live, visit InYourZone.

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