The Personal Investment Management and Financial Advice Association has launched a new campaign to highlight the importance between financial and mental wellbeing.
The ‘Financial Journeys’ campaign aims to raise awareness of the stigma surrounding mental health and the reluctance to discuss money, with research showing that money and mental health are often linked. Studies have shown that in the UK, 94% of employees are suffering from money worries and 59% rank it as their biggest cause of stress and anxiety.
PIMFA hopes to encourage a better understanding of finances and greater access to the help people need top make important decisions about their financial futures. It is encouraging financial firms to share tips and guides available with customers and potential clients to help improve financial education and highlight the benefit of financial advice.
Liz Field, CEO, PIMFA, said: “At whatever point we are at in our journey through life, at various times we are all faced with difficult decisions that often involve money and planning for our financial future. This can be stressful and can affect our mental and financial wellbeing.
“However we don’t have to face these decisions alone. From better financial education to advice from qualified financial professionals for guidance, we want to ensure that people have a better understanding of their finances, and access to the help they need to make important decisions. Our firms are at the forefront of helping people build and navigate their personal financial futures and safeguarding their financial and mental wellbeing.”
