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The Martin Lewis effect: Brits put financial trust in TV experts, but millennials and Gen Z keep it in the family

NEW research from Quilter has found that UK adults are most likely to turn to online and TV experts when it comes to planning their financial future. 35% said they use this source when managing their finances, followed by comparison sites (30%) and family members (29%).

The research suggests that younger generations are much more likely to turn to family members for guidance in their financial decisions. For Generation Z (18 to 24 year olds), family was by far the most popular option, with 39% saying they turn to this source compared to just 26% putting their trust in TV experts. Even 25 to 34 year olds were more likely to use family members over any other source with 44% choosing this option.

In perhaps a sign of increased financial knowledge, 55 and overs were most likely to go it alone with their money, with 33% saying they use nothing in particular in their planning.

Which, if any, of the following do you use when planning your financial future?

35% = Online / TV experts.

30% = Comparison websites.

29% = Family.

27% = I do not use anything in particular to plan my financial future.

17% = Financial Adviser.

15% = Friends.

12% = Government helpline (e.g. Pension Wise)

11% = Online digital advice / guidance service.

Base = All UK adults with financial concern for others.

When asked which 1 source they used the most when planning their financial future, just over a quarter of all adults with financial concern for others (27%) said they did it alone, while Online/TV experts (16%) and family (14%) followed.

The survey also looked at what people would value in a financial adviser. 41% of adults said that ensuring their loved 1s receive the most they could possibly give when they died was the most popular choice, including across all age cohorts. Meanwhile, managing investments (ie:- choosing the best shares, range of funds, portfolio; 31%) and helping to understand attitude to risk and making the right choices (30%) came second and third respectively.

Rachael Griffin, tax and financial planning expert, said:- "As technology has become so embedded in modern day life, it is natural for people to turn to sources either online or on TV. In a world that can often be confusing and overwhelming, some have done a fantastic job at making financial management seem more accessible and doable for everyone. However, while these experts are great at recommending energy deals or insurance, they cannot provide the answer to everything and will often only give generic 1 size fits all guidance. Things like pensions, investments and tax planning are all crucial parts of people's finances, but these experts cannot always help, either for regulatory or knowledge reasons. Everyone's financial future is unique to them and as such engaging with a financial professional, whether that be a financial adviser or an investment manager, will enable you to create a tailored and individual financial plan that is specific to your circumstances. With people's finances becoming increasingly complex, particularly when looking across generations, financial advice is crucial to ensure your money works as hard as it can. It is also interesting that the research highlighted the role families play in providing financial knowledge and security. Younger generations' habits are often formed by what their parents did and as such it is natural they want to seek their advice on financial matters. Planning finances across multiple generations is a great way to build on that knowledge and ensure the family unit can work together for each other as well as themselves."

Edge Hill University announced as finalist for Best Moving In Experience

EDGE Hill University's award-winning student accommodation has been announced as a finalist in the Global Student Living Awards in the Best Moving In Experience category. The Global Student Living Awards for the UK and Ireland, and Europe are based exclusively on direct feedback from tens of thousands of students about their student accommodation experience. This year Global Student Living received over 30,000 responses across the UK and Ireland, and the results identified Edge Hill as 1 of the very best moving in experiences thanks to their welcoming and well organised staff and student helpers.

Director of Facilities Management Adrian McGillion said:- "It's always a real honour when we are shortlisted for an award that's voted for by students, it's a clear sign that we are getting our moving in experience right. The entire Facilities Management team work really hard all summer, right up to when our students move in, often leaving their parents for the 1st time, to make the move into halls as seamless and easy as possible. We do this to reassure students and their parents and guardians that we will look after them during their time at University. For the students to vote us 1 of the best moving in experiences in the country shows how successful the efforts of our team have been."

The Global Student Living Awards ceremony will take place on the 10 March 2023, in London. Edge Hill offers a range of different halls to suit the needs of students and all 1st year students are guaranteed a place in halls so they can have the very best experience. The University's guide to living on campus can be found on the website. To find out more or to book a tour of Edge Hill's award winning accommodation and campus, just visit the Edge Hill tour booking page.

Managing Children's Mental Health Around the Cost of Living Crisis

WITH an estimated 23.4 million people unable to afford the cost of living, this is a time of deepening challenge and crisis not just for adults, but also for children and young people. Many families are facing rising costs and youngsters are experiencing increased anxiety and worry las a result, leading to an upsurge in children's' mental health worries.

Children will be affected by stresses and strains on their parents and other family members as much by stressors directly on themselves. It's important to recognise that as a parent you can only to a limited extent 'protect' your kids from your stresses as they will pick up on the negative cues. With something like the COL crisis, they will not be able to avoid it due to it being featured so prominently and even if as a family you are managing economically, others in their Schools may not for example. Also, kids can pick up on and be affected significantly by issues in the news recent examples being of course COVID, the Ukraine war and now the COL.

Psychotherapist Noe McDermott comments:- "Talk to your children about how they're feeling about the cost of living crisis might impact them, reassure them it's okay to ask for help if they feel low. Explain it's normal and natural, but that they don't have to suffer alone. Monitor for signs they are struggling by watching out for mood, presentation or behaviour changes that last longer than a day or two. Increase family time and family events to be able to lift each other up and observe your kids at work and play."

As with all these types of issues hoping you can shield your kids is ineffective as a strategy and you are best advised to deal with the issues openly, discussing as a family how it is affecting yourselves. Problems are always worse when imagined rather than faced and managed and as a family that is very true right now. Think about opening up the conversation by references to a news item for example, or if as a family you have shared meals, maybe begin a chat at that point. Ask for your kids to share their thoughts and feelings about themselves, their worries about the family and their friends. Listen without judgment and with lots of validation.

How to spot anxiety in children. Some children will be experiencing:-

More vivid dreams during this time.

Interrupted sleep.

Issues around appetite and so on which are all classic signs of distress.

Easily angered or irritable.

Finding it hard to concentrate.

It's important to think about the wider health and psychological health impacts as we predict the COL will ease through the year and into next year and it would be unfortunate to be left with a significant legacy of psychological ill health. The key issues to think about are stress management and adding health into your daily routine. Think body chemistry or hormones - some make us feel rubbish (stress hormones such as adrenaline and cortisol) and some make us feel good such as dopamine, oxytocin, serotonin, endorphins (DOSE). It's hard, if not impossible to overstate the positive health impacts of learning better management techniques around inappropriate stress hormone production. The other side of it is learning how to DOSE yourself up on reward hormones which positively improve your global health functioning.

How to DOSE Yourself Up on Reward Hormones...

 Dopamine, gives you a feeling of wellbeing, happiness, and motivation. It can be activated in most pleasurable social situations, such as:- a good night's sleep, eating a nice meal, going for a walk or other exercise, listening to music, hanging out with friends, getting sunshine, engaging with nature and even by stroking pets.

 Oxytocin, promotes strong emotional and relational bonds, gives you a feeling of being loved up; the core of our social animal nature, improves mood and is now looked at as a treatment for social phobia, autism, posy partum depression, anxiety, and depression. You get it from being physically close to those you love! Men and women produce it slightly differently as men can optimise production of the hormone in different behaviours with both sexes getting a boost from say holding hands and kissing (go kiss more!!), but men can get it from simulated competitive 'battle' with other men leading to a big release of loved up feeling when you survive.

 Serotonin, is a well known term because of the common use of SSRI's selective serotonin re-uptake inhibitors or Prozac or fluoxetine as it is more generically known in the UK. Serotonin regulates mood and manages depression and anxiety. It improves happiness and wellbeing, and this has a global health improvement impact. Great ways to get some include sunshine and in general a good amount of bright light (you can use a 'daylight' or anti depression lamp), exercise that fatigues you (serotonin is produced in this type of fatigue to help you recover), eating healthy foods with good protein (plant based) and those less intensively farmed (wild food often has higher sources of the amino acids that help serotonin production).

Endorphins, our natural pain killers! Nothing like naturally produced opiates to feel good! Endorphin is literally a combination of endogenous (from the body) and morphine, naturally occurring morphine has the impact of giving us an amazing sense of wellbeing. Again, a sense of wellbeing is evidenced to improve global health outcomes including improved physical health, social health, economic health, and relationship health. For pain relief also use stress relief as both states are the same in terms of health and wellbeing. Endorphins are a super stress buster. Here's some of the stuff that produces endorphins: vigorous exercise is the most well-known, but also laughing, dark chocolate because of flavonoids and spicy foods which stimulate pain responses in the mouth. Yoga and meditation also produce endorphins; it all sounds like a lot of fun!

If we focus on the chemicals that make us feel good and reducing the chemicals that make us feel rubbish, we reduce long term illness and improve short term wellbeing. So, DOSE up your life as a family: Close on the heels of fun is healthy, is understanding how we can give ourselves positive hormonal boosts d-opamine (rewards prosocial activities improves motivation) o-xytocin makes you feel loved up after a cuddle, s-erotonin improves mood after getting some sun or having a walk in the park, endorphins make you feel great after strenuous activities, such as a game of footie. Kids love getting this sort of knowledge and maybe if they are younger, you can do a hormone treasure map for example showing how and where in home and the local area they can get their fix of each hormone.

Noel McDermott is a Psychotherapist with over 25 years' experience in health, social care, and education. He has created unique, mental health services in the independent sector. Noel's company offer at-home mental health care and will source, identify and co-ordinate personalised care teams for the individual. They have recently launched a range of online therapy resources to help clients access help without leaving home:- NoelCDermott.Net.

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