Money is better than sex but not as good as health
Over one in four of the UK’s population (26%) ranks money above sex, food, work and the weather, according to the Picture Financial Happiness Index.
The report – ‘Finance: The Final Frontier’ – found that money does buy happiness, with six in 10 consumers (62%) admitting to feeling happier when their finances are well organised.
Financial happiness, however, can be clouded when confronted with the confusing world of financial jargon, with 16% claiming not to understand financial terms and language.
The report also discovered that people struggle to spend time organising their money, with 1.8 million admitting to never reviewing their finances and nearly eight million only doing so once a year or less.
Julia Dallimore of Picture Financial said: “Our research has shown a strong link between happiness and organised finances, but our emotional well-being is not the only benefit to reviewing and sorting our credit and borrowing.
“Keeping a track of our incomings and outgoings and being clear about what we want to achieve with our money management can also make a real difference to our bank balance.”
The Picture Financial Happiness Index put friends and family (95%), health (70%) and laughter (53%) above money (26%), with women’s emotions particularly swayed by the state of their finances.