HSBC Financial Wellbeing Seminar

by Heat Recruitment

Health and wellbeing is key to a successful working life but something that doesn’t generally get acknowledged as part of this is financial wellbeing.

Financial wellbeing means completely different things to each of us and being financially savvy comes naturally to some but others struggle and it can have a detrimental effect on both personal and professional lives.

According to research, 82% of adults in the UK worry about money either some or most of the time, which is worryingly high. Here at Heat we place a great deal of emphasis on employee wellbeing and want to provide access to information and support to empower employees to make the best of their financial rewards and ensure they do not feel these debilitating pressures.

We recently teamed up with HSBC to provide employees access to the range of seminars and financial support services that HSBC offer the community. The HSBC team set up station at the Heat offices and presented their Taking Control of your Finances seminar.

The seminar focused on the various factors relating to financial wellbeing and planning and which areas to focus on as a starting point. The seminar was interactive and attendees were encouraged to ask questions and share experiences but all the while a Financial Advisor was on hand to facilitate any discussions employees wanted in a confidential capacity.

The top 5 points we learned were seminar are:

  1. Money concerns / worries can and do effect everyone regardless of income and at all stages in life. Although many people don’t talk about it, you’re not alone.

 

  1. Don’t ignore your credit score. Take the time to find out where you are with it and check that there isn’t any knock-on effect from previous housemates or something effecting it that isn’t correct. Follow up with anything you are unsure of and ensure the information shown on there is accurate.

 

  1. Create a budget plan. You can do this through simple excel templates or mobile apps but make sure you include everything and take the time to record your incomings and outgoings. It is surprising how much you spend on things that aren’t important and where you can make simple savings.

 

  1. Whether you are looking to make savings, grow your finances or plan for the future, there are plenty of advice and free resources available online, through independent organisations and through your banking providers.

 

  1. Know where you stand if your income were to suddenly stop. How many months could you support yourself for and would it be beneficial to set up additional insurance should your circumstances change in the future.

 

It was a thought-provoking presentation which gave a lot of useful information and a view of factors that many people don’t consider when thinking about their financial health. We look forward to continuing to work with the HSBC Financial Wellbeing team in offering further financial wellbeing support to Heat employees.