Financial Skills and Attitudes

Financial Skills and Attitudes

There is a lot in the media at the moment about the need for financial education.  Much of this follows recent research by the Money Advice Service. It showed that one in five adults lack confidence about personal finance, while a third feels uncomfortable talking about money.   16% of people struggle to read and understand their bank statement and 25% don't do any financial planning.

Recent research from Holland has show that your attitude to money and your skills with money, affect the risk of getting into financial problems. If you have positive financial skills and a positive attitude, you're likelihood of financial problems is 21%, compared to a whopping 96% if you have negative financial skills and a negative attitude. 

This highlights the need for financial education, something that Transforming Notts Together is working on with a number of churches, charities and organisations in Nottinghamshire. More details to follow in future months....

Author: James Henderson

Date: 21 August 2013