Commenting, Chris Pitt, CEO of first direct, said: “As we enter 2021, the uncertainty around the pandemic is still dominating all our lives. Health concerns are an ever-present concern, and many are also worried about their job security and their finances.
“It’s only just starting to be widely recognised that money wellness is just as important to our wellbeing as mental and physical wellness, which is why first direct is committed to helping everyone feel confident in the financial decisions they make. While everyone is different and there’s no single right way to manage our money, by producing this tool – together with some straightforward advice – we’re looking to help people feel more empowered about what actions they can take to improve their money wellness.”
The results have now been published in a full report which includes a unique set of characteristics for each group. The report is accompanied by a quiz and tips on the first direct website, so that people can find out their Money Type and then read advice that can help them to achieve a healthier financial balance and decrease money anxieties.
Dr Oliver added: “Once certain characteristics have been identified, people can read advice relating to their financial habits and will then be able to start moving forwards in their money wellness journey.
“Take the ‘juggling one’ for example. Their weakness in financial wellbeing is likely to be in the area of money mindfulness, as they are known to make impulse purchases. This Money Type could consider keeping a money diary using an app or paper journal, making note of everything they bought, how much it cost and how it made them feel. Doing this exercise can also help to put calm consideration into making future purchases.”
To view the full report, please visit here.
For further information on each Money Type, to find out your Money Type through the quiz and to read advice from Dr Oliver, please visit here.
Notes to Editors:
Dr Oliver Robinson is Associate Professor in Psychology at the University of Greenwich, and author of Development through Adulthood and Paths Between Head and Heart. His research specialises in how wellbeing and values change with age and across major life transitions. Oliver decided to work with first direct, as the team has a genuine interest in integrating cutting-edge psychological research into their work, particularly in how they develop a meaningful and nuanced understanding of their customers.
Research conducted by Dr Oliver Robinson in April 2020, following audience segment research of 9,000 representative UK adults in 2019 by YouGov.
For further information please email Ben Marquand at firstname.lastname@example.org or call 0113 276 6700. Or email email@example.com Opens an overlay [Will show a security message first] or firstname.lastname@example.org Opens an overlay [Will show a security message first] or call 0113 8800 444.
Notes to Editors:
About first direct
first direct provides mobile banking, online and telephone services to its 1.5m customers and offers a full range of personal banking products including its multi-award winning current account and mortgages. It’s been recognised as being a pioneer of amazing customer service by numerous independent third parties including The Competition and Markets Authority, Which?, Moneywise, Moneyfacts and Moneysavingexpert.com. As well as its Facebook page, first direct uses social media to engage with customers through LinkedIn Opens an overlay [Will show a security message first], facebook and Twitter.