Financial Wellbeing –

How do you achieve financial wellbeing?

Following our exclusive research into the extent of the UK’s financial anxieties, Kevin Barrett, Managing Director, Private and Commercial Banking offers his tips on achieving financial wellbeing.

Financial wellbeing is more of a journey than a destination, and it is a personal one. Here are some simple steps you can take to help build confidence in your finances.

Tip 1

Understand what financial wellbeing means to you.

At Arbuthnot Latham, financial wellbeing is about how you relate to your money. It includes your knowledge, confidence, and resilience with finances, as well as how financial services support you.

But financial wellbeing can mean different things to different people.

For example, our survey found a big difference in how much people worry about their money based on their location - 88% of people in London said they worry about their finances versus 67% of people in Northern Ireland.

To further highlight how different peoples’ views diverge, our report shows a big split between how much men and women think they need in their pension pot to secure a comfortable retirement.

Demographic differences in pension expectations:


Male average


Female average

This is a difference of more than £100,000. There are no right and wrong answers, everyone sees the world differently.

What is important is that you take time and consider what matters to you. What do you want to achieve in your financial plan? What does ‘good’ look like to you?


Tip 2

Know the difference between financial security and financial wellbeing.

There is no doubt that there is a link between financial security and financial wellbeing.

To illustrate this, 91% of under 35s in our study said they are concerned about money whereas 37% of - traditionally more financially secure - over 65s say they ‘never’ worry about money.

91% of under 35s

have concerns about money

37% of over 65s

‘never’ worry about money

However, despite the general affluence of our respondents, 87% of those we asked said they worry about the economy; 39% said they were anxious about their investments, 25% worried about providing for future generations, and 21% were concerned about mortgage payments.

Extrapolate these numbers across the country and you have a lot of people, with a lot of concerns, despite their level of wealth.

Are you worrying about money? Take a step back and question whether you need to be, is there a way of alleviating some of that stress…


Tip 3

Get the right support.

We also found that just 30% of people in our survey feel able to talk to their bank about money when something big happens in their life.

This is rather shocking.

What we are seeing is that people have the financial resources to achieve wellbeing, but do not feel they can get the right support.

While digital tools are useful for day-to-day finances, speaking directly to a professional who understands your situation is crucial.

In a similar vein, it is just as important to discuss your goals, obligations, and family views before seeking financial advice.

It is only by thinking about these things that you can start to come up with a solution.

Financial wellbeing involves setting clear goals and having a plan to reach them.

However, life is unpredictable, and regular check-ins are necessary to ensure you are still on track and happy with your progress.

Tips for achieving financial wellbeing

  • Take time to think about what makes you happy, what do you want to achieve in life?
  • Speak to your family, understand their goals and expectations, speak openly.
  • Consult a professional, find someone who takes time to understand your needs.
  • Make sure that you are happy with your financial plan.
  • Regularly track progress. Have your goals changed? How are you tracking against your plan?

Helping you go further

The good news is that where there are concerns or problems, there are also solutions. We work with our clients to create a long-term financial plan, designed around their specific needs. Our aim is to support and empower them to take ownership of their financial wellbeing.

Read the report    Visit our Financial Wellbeing hub

Take control of your financial wellbeing

Our research has shown that wealth alone does not equal financial wellbeing. Knowing you have an expert to support your journey can give you peace of mind and ensure you are on track to meet your financial goals.

Speak to us to today by completing our enquiry form or calling us on the number below.

+44 (0)20 7012 2500

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