October Health – 2025 Report

Financial Wellness in United Kingdom

The leading cause of financial wellness stress in the United Kingdom is the rising cost of living, particularly due to increasing expenses related to housing, energy bills, and inflation. This widespread economic pressure affects employees' mental health and workplace productivity. Offering financial education and support through workplace programs like October’s digital group sessions could help employees manage this stress effectively.

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Financial Wellness Prevalence
16.51%
Affected people
9,080,500

Impact on the people of United Kingdom

Effects of High Financial Wellness Stress on Health and Personal Life

  • Mental Health: Increased anxiety, depression, and chronic stress leading to reduced cognitive function and emotional resilience.
  • Physical Health: Higher risk of hypertension, cardiovascular problems, sleep disturbances, and weakened immune response.
  • Work Performance: Reduced concentration, productivity decline, increased absenteeism, and higher risk of burnout.
  • Relationships: Strained interpersonal relationships due to irritability, withdrawal, and conflicts over money matters.
  • Overall Wellbeing: Lower life satisfaction and reduced ability to enjoy daily activities.

Supporting employees with financial wellness programs or resources like Panda’s digital group sessions and assessments can help mitigate these effects and improve overall workplace wellbeing.

Impact on the United Kingdom Economy

Effects of High Financial Wellness Stress on an Economy

  • Reduced Productivity: Employees facing financial stress often experience decreased concentration and motivation at work, leading to lower overall productivity.
  • Increased Absenteeism: Financial worries can cause higher rates of absenteeism due to stress-related illnesses or distractions.
  • Higher Healthcare Costs: Stress-induced health problems increase demand on healthcare systems and raise insurance premiums for employers.
  • Lower Consumer Spending: Financial stress limits disposable income, reducing consumer spending which slows economic growth.
  • Workforce Instability: Increased turnover and job dissatisfaction can disrupt business operations and add recruitment/training costs.
  • Mental Health Impact: Prolonged financial stress contributes to anxiety and depression, further burdening social and economic resources.

Supporting employees through financial wellness programs, digital group sessions, and assessments like those offered by October can mitigate these impacts by improving financial literacy and coping strategies in the workplace.

What can government do to assist?

Ways a Country Can Lower Financial Wellness Stress

  1. Implement Financial Education Programs
    Provide accessible financial literacy courses in schools and workplaces to empower individuals to manage money, debt, and savings effectively.

  2. Promote Job Security and Fair Wages
    Enforce labour laws that ensure stable employment contracts, living wages, and protection against unfair dismissals.

  3. Provide Accessible Mental Health Support
    Integrate financial stress support within mental health services, such as offering digital group sessions and assessments like those October offers, accessible through workplace wellbeing programmes.

  4. Facilitate Affordable Access to Credit and Debt Relief
    Regulate lending practices to prevent predatory loans and offer government-backed debt advice and consolidation services.

  5. Strengthen Social Safety Nets
    Enhance unemployment benefits, housing support, and emergency financial assistance to reduce anxiety during economic hardships.

What can businesses do to assist their employees?

How a Company Can Lower Financial Wellness Stress

  1. Provide Financial Education Programs

    • Workshops and webinars on budgeting, saving, and debt management.

  2. Offer Access to Financial Counseling

    • Partner with financial advisors or provide access to confidential one-on-one sessions.

  3. Implement Employee Assistance Programmes (EAPs)

    • Include financial wellbeing support as part of the EAP services.

  4. Provide Transparent Information on Benefits and Pay

    • Clear communication about salaries, bonuses, and benefits to reduce uncertainty.

  5. Introduce Financial Planning Tools and Resources

    • Access to apps or online tools that help employees manage their finances.

  6. Consider Offering Salary Advances or Emergency Loans

    • Support for employees facing short-term financial difficulties.

  7. Encourage Participation in Pension and Savings Schemes

    • Automatic enrolment and easy access to retirement saving options.

Suggestion: Use platforms like October to run digital group sessions on financial wellness and provide ongoing support and assessments tailored to employee needs.