ONE of Cumbria’s leading accountancy firms has given its backing to Talk Money Talk Pensions Week, which aims to improve money management across the UK.
Formerly known as Financial Capability Week, the annual celebration aims to get more people talking about money and seeking help from organisations and professionals.
The latest data for the UK shows that only 38% of 7-17-year olds say they learned about how to manage money at school, which may be why 11.5 million adults have less than £100 in savings and investments.
The study by the Money and Pensions Service, which is behind the national campaign, also found that 22 million working-age adults don’t feel that they understand enough about pensions to make decisions about saving for retirement and that five million people currently in retirement aren’t satisfied with their financial position.
Graham Lamont, Chief Executive at Lamont Pridmore, said: “It is of great concern to us that so few people seem informed about day-to-day financial issues. The fact that more than half of UK adults have hidden financial concerns from their family and friends indicates just how taboo a subject personal finance is.
“We are proud to be supporting the Talk Money Talk Pensions Week and would encourage people to reach out to professionals, such as ourselves and our financial advisors at Lamont Pridmore Asset and Wealth Management to seek help and assistance to create robust Life Wealth Plans.”
Chris Lamont, Partner at Lamont Pridmore, added: “The lack of financial education in the UK is a real problem and it is preventing many people from making informed decisions about their future. There is a lot of support out there and people must reach out to find it and speak with their families so that they can move ahead with their lives.”
You can find out more about Lamont Pridmore’s wide range of accounting and financial services by visiting www.lamontpridmore.co.uk, telephoning 0800 234 6978 or emailing info@lamontpridmore.co.uk
