Organising your money, and especially managing credit well, is the way to find true happiness, according to research from lender Picture Financial.

Over half (62%) of respondents said they felt happier when they knew exactly where they stood in relation to their finances. This is particularly true amongst women, with 64% claiming to be happier when their finances are well-organised (compared to 59% of men) than if they are in a mess.

Happiness with financial arrangements, however, can be clouded when confronted with the jargon-shrouded mysteries of the personal finance industry. Confusion over the difference between APRs and AERs in the credit market, for example, can lead to disorientation and distress.

But Julia Dallimore, marketing director at Picture Financial, observed that despite the increased appetite for credit in the UK – and the ‘education gap’ that many suffer when it comes to personal finance – the majority are happy with their financial arrangements and live comfortably with their borrowing.

“Our comfort with credit isn’t matched with our financial literacy and the research highlights that personal finance really is the ‘Final Frontier’ for consumers,” she said.

“But despite stories to the contrary, just 3% of the respondents to our research claim to worry constantly about their outstanding credit. This indicates that whilst we are more likely than ever to have credit, for the vast majority of us it is used as an acceptable means to maintain our standard of living.”