Insights

7th November 2023

Talking about money and our financial well-being can sometimes feel embarrassing, taboo, or even awkward, even though it’s a crucial part of our lives.

According to the Money and Pensions Service (MaPS), around a quarter of UK adults have less than £100 in their savings account, with one in six people having no savings at all. They also found that found that four in every five people avoid discussing their finances with someone*.

That’s why Talk Money Week was launched by the MaPS, to address the need for improved financial education and awareness. This year, the event runs from 6 November to 10 November 2023.

We believe it's a great opportunity to encourage open conversations about building a healthy relationship with money and taking the first step towards financial confidence.

Tips on how to improve your financial confidence and get involved in Talk Money Week:

·         Talk to someone you trust: If you feel able to, speak to a family member or friend about your concerns. They may be able to offer advice, or you could set goals together.

·         Figure out your money goals: Do you have long-term or short-term goals and aspirations? It’s important to measure your success and celebrate your achievements.

·         Use resources: Take advantage of workshops, online articles, and books to enhance your knowledge.

·         Speak to a professional: If you don’t feel comfortable speaking to someone you know or you don’t know where to start, that’s okay. Financial advisers, including those here at National Friendly, can support you with any questions or concerns you may have.

How we can help

Did you know we have a sister company that can provide financial advice? At National Friendly Financial Solutions, we offer a telephone-based financial adviser service with diploma-qualified Independent Financial Advisers, who can help you make sense of your money.

We also provide a non-advisory comparison service to help you find the right solution for your needs. Our customers' best interests are always at the forefront of our thinking, and we're here to assist you in achieving your financial goals and aspirations.

We’re a friendly voice at the end of the phone. If you’d like to find out more about National Friendly Financial Solutions, get in touch with one of our financial advisers by calling 0333 014 6267 Monday to Friday, 9am to 5pm, or email us at info@nffs.co.uk.

Other resources

There are a number of free helplines and advisory services to contact if you find conversations around money difficult or overwhelming, it is important to reach out if you are struggling.

National Debtline - Call 0808 808 4000 Monday to Friday, 9am to 8pm and Saturday 9.30am to 1pm

Mental Health & Money Advice also offers information and advice on their website for anyone struggling with money because of mental illness, or whose financial situation is affecting their mental health. You don’t have to suffer alone.

*www.money.co.uk/savings-accounts/savings-statistics (February 2023)

Latest Insights

Insights

A friendly way to save

26/03/2024

With the cost of everything rising, it’s becoming increasingly hard to save money either for yourself or for your loved ones. The number of people in the…
Insights

Give the gift of savings with a TESP

19/12/2023

Are you having trouble finding the perfect gift for your child or grandchild? Or are you interested in surprising your loved ones with a gift that will bring…
Insights

Dealing with grief at Christmas 

04/12/2023

Christmas can be a time for celebration, family get-togethers and festive traditions. But, for those going through bereavement or suffering from grief, it can be an overwhelming…
Insights

Movember and exploring the mental health challenges men over 50 often face

16/11/2023

Did you know November is Men's Health Month? It’s a time to focus on improving men's health worldwide. On average, Men are dying 4.5 years earlier than women,…
Insights

Let’s talk financial wellbeing during Talk Money Week

07/11/2023

Talking about money and our financial well-being can sometimes feel embarrassing, taboo, or even awkward, even though it’s a crucial part of our lives. According to the Money…
Insights

Understanding life insurance and suicide

09/10/2023

Understanding life insurance and suicide  We recognise that suicide can be a difficult topic to talk about. More than 6,000 people die by suicide in the UK and…
Insights

Cover: PMI - Bringing Affordable Healthcare to the Masses

09/08/2023

With the National Health Service (NHS) facing relentless demand, it's time for the private medical insurance (PMI) sector to help fill the gap. However, while long waiting lists…
Insights

IFA: Conversations with an Underwriter – Understanding the Diabetes dilemma

14/07/2023

Following National Friendly’s discussion last month on a fresh approach to underwriting, National Friendly sat down with Jake Watts, Disability & Development Underwriter, to learn more about underwriting…
Insights

Health and Protection: Avoid a ‘veneer of inclusivity’ with a toxic culture underneath – Long

06/06/2023

Sam Long, assistant risk and assurance officer at National Friendly, speaks to Health & Protection about how the financial services sector is less diverse than other industries, but…
Insights

Cover: Protect your biggest investment with Income Protection

27/04/2023

When someone buys a property, it is likely the biggest purchase of their life, yet most people don't go to the appropriate lengths to protect their investment. Mortgage…
Insights

Cover: Opening the conversation on later care annuities

11/04/2023

National Friendly explains the importance of discussing later-life care, and how later-life care annuity works. Of all the financial planning we can do perhaps the least talked about…
Insights

Cover: Industry Voice - Changing the conversation on later life care

30/01/2023

Planning for elderly care might not be a cheery topic for an adviser's client, but it is certainly a pertinent one. In 2021-2022 there were an estimated 360,793…
Insights

Cover: Consumer Duty: What the younger generation want

04/01/2023

Engaging the younger generation as part of Consumer Duty considerations involves engaging your own employees first, writes Georgia d’Esterre, head of marketing at National Friendly. Engaging 18 to…
Insights

Cover: The new, young face of income protection

04/01/2023

Why does a healthy person need income protection? Employment contracts typically include a fixed number of sick days where the employee continues to get paid when they're unable…
Insights

Cover: Partner Insight - Neil Thompson - Maslow's Pyramid - The unexpected benefits of insurance

25/10/2022

Why do people need insurance? Customers typically look to insurance products such as income protection to protect their financial security, however, there are knock-on quality-of-life benefits that often…
Insights

Mutuality and why you need to know who owns your insurance company

09/05/2022

A mutual is a company, typically an insurer or building society, which is owned by their members, and operated for their benefit. They compete head-on with the more…
Insights

Bristol Business News: The Last Word with Oliver Jones

22/02/2022

Each week Bristol Business News gives a prominent member of the city’s business community the last word on its weekly e-bulletin. This week Oliver Jones, Head of Sales…