Money Struggles Causing Loneliness

Published / Last Updated on 10/05/2022

This week is Mental Health Awareness week and as part of raising our awareness, LV= has published some research on the impact of financial and money struggles.

LV=’s research found that 23% of adults in the UK have felt lonelier in the last 3 months due to the increased cost of living, making cutbacks and financial struggles.

LV=’s Wealth and Wellbeing Monitor regularly surveys 4,000 adults also found that

28% of those surveyed were making financial cutbacks

59% of those struggling with money admitted to feeling lonelier.

LV=’s research also found that it was mainly lower paid women and younger people that experienced loneliness as well as the self employed.

Comment

Many people are struggling with money and whilst we may not broadcast the matter, we analyse all clients and assess whether they are vulnerable or not in their financial matters and whether any advice that we offer will have a possible negative impact on your wellbeing.

Personal financial advice that we offer is what it is, it is personal to you and personal to us.  We will look for areas that may leave you exposed and at risk.  We will never recommend actions that you do not understand or do not put you in a better position, this may be always be the solution that makes the most financial sense, it may be the action that means long term you may be slightly worse off financially but puts you in an immediate and short term better financial position for you to be happier and feel more secure and enable you to recover, rebuild or offer long term security and safety.  It is no use to any of us being the richest person in the cemetery or indeed on anti-depressant medication.

If you are struggling or have a money problem that needs solving, contact us and we will try and help you.

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