The study of 2,000 adults revealed ‘save for a rainy day’, ‘stick to a budget’ and ‘be open with your partner about your spending habits’ as other popular financial pearls of wisdom.


Other nuggets of advice deemed helpful when it comes to money include ‘don’t do food shopping on an empty stomach’, ‘sleep on a big financial decision’ and ‘ask for help’.


While others have been warned to ‘pay off debts rather than spend on luxury items’ and not to ‘make financial decisions while feeling angry’.


More than eight in 10 adults are happy to go to others for help with money, with financial advisors, banks, and parents all considered approachable.


Alex Partridge, Wellbeing Ambassador at financial wellbeing provider Wagestream, which commissioned the research, said: “When you’re young, it is easy to ignore advice from others about money – but it is important to consider financial planning from a young age.


“These pearls of wisdom are a great start for anyone feeling overwhelmed by money stress – and a reminder that financial education is most effective when it’s timely, personal and easy to put into action.”


The study found many of those who have looked to others for advice have been told to both stretch themselves financially at a young age and set realistic saving goals.


‘Never go into business with family or friends’, ‘never lend money to family or friends’ and ‘invest in property’ also feature in the list.


Parents and grandparents are seen as the wisest financially, with 38 per cent saying the best advice they ever got was from them.


But when financial help is needed, around 30 per cent would go to a financial adviser and the bank, while just over a quarter would go to parents/grandparents and one fifth would search Google for answers.


And of those that would not go to someone for advice, almost 30 per cent are already confident managing their own money, while almost one fifth would not trust someone else.


Of those polled by OnePoll, 60 per cent agree there is a support gap for adult financial guidance, while almost two fifths see financial advice as ‘mainly for wealthy people’.


And 83 per cent of workers would like to have received more financial education after they left school, with around half wanting their employers to give more access to confidential advice.


One in 10 are concerned that looking for financial advice will be expensive and within this there is a huge gap in money confidence – seven per cent of those with no savings feel confident with their money; while half of those with £10,000+ feel confident and don’t feel they need any help.


The past year of economic uncertainty for many has not helped, as 46 per cent have been worried about their financial wellbeing and 40 per cent feel less financially stable as a result of the pandemic.


All this money worry has had a serious impact not just on finances, but on health as well, with over two fifths noticing their mental health suffering due to financial concerns, leading to anxiety, stress, depression, the inability to concentrate at work and problems sleeping.


And of those, a huge 60 per cent have seen their physical health suffer as a result, feeling nauseous, getting headaches and even experiencing muscle pain.


Peter Briffett, CEO and co-founder of Wagestream, which recently launched a confidential financial coaching service for UK workers’ added: “The financial education gap has been too big, for too long.


“Poor financial wellbeing is not just an urgent health crisis, it’s also an economic crisis – impacting people and employers across the country.


“We know that organisations want to do more, and now we know that people want that support from financial guardians they trust – like their employer. It’s time to close the gap.”



1.            Pay your bills and stay out of debt

2.            Save for a rainy day

3.            Start saving at a young age

4.            Spend less than you earn

5.            Avoid credit cards if you can help it

6.            Stick to a budget

7.            Pay off debts rather than spending money on luxury items

8.            Pay off your mortgage as early as you can

9.            Teach your children the value of money

10.          Don’t do food shopping on an empty stomach

11.          Save first, spend later

12.          Don’t spend it all after payday

13.          Teach your own children how to budget from an early age

14.          Plan for retirement rather than burying your head in the sand

15.          Sleep on a big financial decision

16.          It’s okay to ask for help

17.          Never lend money to friends or family

18.          Be open with your partner about spending habits

19.          Set a savings goal

20.          Invest in property

21.          Never go into business with family or friends

22.          Put 10 per cent of everything you earn into savings

23.          Start thinking about your retirement before your boss does

24.          Don’t make financial decisions when you’re angry

25.          Invest in stocks and shares

26.          Don’t spend it all in one place

27.          Save half, spend half

28.          Stretch yourself financially at a younger age

29.          Don’t work long hours, save it for when the children have left home

30.          Invest in cryptocurrency

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