ONS report highlights money worries as key factor affecting the nation’s well-being – by Mark Fryer

While there is a degree of inevitability that the crisis we are living through will have an anxiety impact on the population, figures released by the Office for National Statistics (ONS) really lay out the size of the problem.

As a financial advisory company, it’s concerning to read that anxiety levels were highest amongst people whose incomes fell; an estimated 8.6 million people.

The survey, released weekly, measures the impact of Coronavirus on well-being and also identified those living in rented accommodation and the self-employed as being particularly affected.

Measures of well-being were at their lowest levels since records began in 2011, the ONS said.

The headline statistic from the survey was the suggestion that more than 25 million people – 49.6% of over-16s in Britain – rated their anxiety as “high”, more than double the amount who did so at the end of 2019.

As we have said in previous posts, a financial adviser does not have a magic wand to make money problems go away. But we can provide advice on an approach to finances when money it very tight. The people we talk to get a lot of reassurance from taking small steps that begin to put themselves back in control regarding their financial circumstances.

During the current health and economic crisis we are offering online consultations to people who need help with getting some order to their finances. Our help is practical and assists people to both budget and prioritise.

Contact Mark at mark@fryerglass.co.uk for an initial discussion. There is no charge – we are simply wanting to do the right thing as this time. This is how we as a business can do our bit.

Mark Fryer BA DIPFA
Independent Financial Adviser

About Mark Fryer

Throughout his financial services career, Mark’s focus has always been on clients, and helping them improve their financial situation. Knowing no two clients are the same, Mark uses his excellent people skills to ensure Fryer Glass enjoys a growing portfolio of long-term clients. He is currently working towards Chartered status, and has an Advanced Diploma in Financial Advising. Mark Fryer BA DIPFA