Building financial resilience: Is a cultural shift needed?

‘It is about empowerment, engagement and education’

Isabel Baxter
clock • 6 min read

With the market volatility, high inflation, and high interest rates the UK has faced, financial resilience unsurprisingly for some hit an all time low. Here Isabel Baxter explores if a cultural shift is needed and how financial education comes into play…

Moneybox head of personal finance Brian Byrnes believes that a connection can be made between financial resilience and financial education. "We do not talk about money here in the UK," he says. "Though we are happy to talk about almost anything else." Financial resilience is about "building wealth with confidence," according to Byrnes. "It needs to be a wide cultural thing between financial services and clients themselves delving into topics that make them feel comfortable," Byrnes explains. Empowering clients To achieve it, he says it is important for advisers to empower and ...

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