Improving finances could help tackle ‘Blue Monday’ – Unbiased
Blue Monday typically falls on the third Monday of the year, in this case 20th January.
Unbiased, the UK-based financial advice platform, shared insights on improving finances – including reviewing mortgages regularly – as a way to tackle Blue Monday, identified as the ‘most depressing day’ of the year.
Blue Monday typically falls on the third Monday of the year, in this case 20th January.
Research found that more than 1.5 million individuals in England faced problem debt and mental health issues, according to the Money and Mental Health Policy Institute.
The beginning of the year, a popular time for financial advice, saw 28.5% of Unbiased’s enquiries occurring in the Q1, peaking in January.
Unbiased’s findings revealed that individuals who received financial advice experienced a clearer understanding of their financial goals (36%) and reduced financial stress (26%).
Unbiased suggested several steps to improve individual finances.
First, creating a budget can help track income and expenses, identify savings, and eliminate unused subscriptions.
Building an emergency fund with at least three months’ worth of essential expenses was also recommended.
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