Financial anxiety leading to more sick days

Money problems are beginning to have an impact on workers in the UK, with almost one in ten working adults admitting they have taken days off due to financial worries.

According to a YouGov and Money in Mind survey of 2,000 adults, five per cent have taken a day off work sick because of money issues.

Just 18 per cent of adults in the UK revealed they are 'very confident' they have the knowledge required to create and maintain a sound financial plan for themselves and their family.

Overall, almost a third of respondents who have worked said access to money management guidance from their employer would help them to feel more effective and more engaged at work.

Martin Osborne-Shaw, director of Money in Mind and managing director of Killik Employee Services, said: "Employers now have a clear interest in helping staff to understand how to make the most of what they've got."

It was recently revealed that a fifth of graduates in the UK are earning less than their peers who left school after their A-Levels.

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I find it hard to believe that people today have any less knowledge about financial planning than in previous years. Most schools and universities have been giving financial advice/courses for years while I don't remember getting any.

I can believe that some people are over stretching and/or finding cost increases outpacing salary increases. Of course any significant increases in interest rates would pose a problem with mortgage payments.

Having said all this perhaps we all need to go back to basics. Don't spend what you haven't got, and set money aside for "rainy" days.