The study also showed “concerns” about economic issues affecting physical and mental well-being, with 56% of respondents saying mental health, relationships, and overall as a result of economic pressure. Reported a problem with happiness.
“There is a very strong link between financial well-being and its impact on life, health and wealth, and the data we collected last year confirmed it very clearly,” said FSC CEO. Richard Klipin said.
“Major economic indicators suggest that we as a nation are moving in the right direction, but our research should be done to help the public in building financial knowledge and trust. It shows that there is more. “
“A collective response is needed to support the outcome of long-term literacy and to develop financial resilience to future economic events,” he explained.
“We need to turn the word money into a call for action to improve New Zealand’s financial readiness.”
Klipin said the advisor is particularly well suited to address some of these issues. Many are already making great efforts to make conversations with their clients “more holistic” and focus on the big picture of happiness beyond securing insurance policies. -Mortgage fix.
“All the research and data we publish is very often used by members for purposes such as background briefings and when thinking about what the big problem is,” Klipin said. ..
“Certainly, for the advice community, the important message here is that supporting people’s financial well-being is very important because it affects their overall well-being.”
“So when people come to see their advisors, they may want to fix their financial life, but it’s not just money,” he explained.
“It’s always about everything else-their physical health, their mental health, their relationships and their goals, and we’re starting to see advisors starting to take advantage of it. I think it’s been a much more holistic and complete conversation, and that’s really good. “
Financial confidence and literacy data show a “prone to worry”
Source link Financial confidence and literacy data show a “prone to worry”