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Money Wellness Index September 2020

In January 2020, first direct launched their inaugural Money Wellness Index, a baseline from which to measure changes in the nation’s relationship with money. Eight months on, we are dealing with the aftermath of the first wave of the coronavirus pandemic, and seven weeks of lockdown in the UK.

Positive change

At first direct, we were keen to investigate the impact this period has had on our financial wellbeing and feed this into the steps we are taking to inspire positive change and help get the country feeling more ‘money well’.

A unique time

As such, we fast-tracked our next iteration of the Money Wellness Index so we could examine how the UK population is really feeling about their money as we emerge from lockdown. We worked with YouGov to interview over 4,000 adults from across the UK. This research resulted in the creation of our second Money Wellness Index, which we are using to inform how we can help to deliver money wellness for our customers.

Enhancing the Nation's financial wellness

This second edition of the first direct Money Wellness Index is another important step in our mission to understand and meaningfully enhance the nation’s financial wellness.

We will continue to use these findings to better help shape our products and services, to create solutions to the challenges that impact our customers financial wellbeing. 

Find out more about how we intend to do this, and a further deep dive into the research here.

To support the nation forge long-term change in how they think and behave about money, first direct has enlisted neuroscientist and clinical neurologist, Ash Ranpura. Ash has developed a series of Reset Rituals, which address the key behavioural barriers holding people back from having a more positive relationship with money.