TURBULENT 2020: HOW HAS THIS IMPACTED FINANCIAL HEALTH

16 October 2020

The coronavirus pandemic has caused a shake up to public health concerns and this is not just an isolated issue associated with physical health. Research conducted by Opinium of 10,000 UK residents has highlighted the major effects that the coronavirus has had on Financial Wellbeing.

The study found, although two thirds of the population felt their employer had dealt with the pandemic well, 35% were worried they may lose their jobs because of it. This coupled with the stark reality that 32% of UK employees have lower than one month’s savings, has been the driving force behind a reduced feeling of financial wellbeing.

Percentage who do not feel their employer cares and could support them more:

Planning how you are going to pay any previous debts or upcoming payments as well as looking at ways you can reduce spending and increase saving will help you to improve your financial wellbeing. Clear conducted its own independent study on employees, which found the firm is performing well for overall wellbeing and mental health after staff rated Clear to be supporting and caring.