07 November 2023

6 – 10 November 2023 is Talk Money Week from the Money and Pension Service (MaPS) and it is time to start some conversations all about money.

As payroll professionals, we are very much ingrained into the finance world, but do we encourage others to talk about money as much as they should? Talk Money Week is all about making sure that we discuss and support each other through any financial difficulties.

According to MaPS, Research shows that people who talk about money:

  • make better and less risky financial decisions
  • have stronger personal relationships
  • help their children form good lifetime money habits
  • feel less stressed or anxious and more in control.

This year, MaPS has released a toolkit and is encouraging everyone to “do one thing” to improve financial wellbeing. For your organisation, this could mean directing employees to valuable resources, offering to talk about any financial concerns or signposting to professional pensions advice. On a personal level it could mean educating your children or family members about the importance of saving.

Whatever it is you do, make sure to encourage open and supportive communication about money. We still can’t escape the phrase ‘cost-of-living crisis’ so the least we can do is talk about it.

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