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a blog by Chris Barrow

Worrying about money

It's noticeable that the enthusiasm of politicians when discussing how we are going to deal with the "cost of living crisis" seems to have been overshadowed by their even greater enthusiasm for getting themselves (or their mates) promoted in to leadership positions.

Nothing new there then.

In the meantime, self-seeking politics isn't reducing prices - and we are all dealing with double-digit inflation for the first time in 40 years.

I've said before that 85% of the working population have no experience of that - and the 15% of us who do, know that you can't simply knock on the boss's door and ask for repeated pay rises.

There has to be, at best, some reassessment of priorities in spending and, at worst, some belt-tightening by all but a lucky few.

As a result, I'm wondering whether one of the services we could offer to team members would be access to some simple education on personal financial organisation?

There may be an assumption that all of your team members know how to manage money.

The reality might be different.

Our Business Confidence Forum panelist Jonathan Munns shared with me this link to a useful course created by The Open University in collaboration with MoneySavingExpert.

I'm sure there must be others, maybe even local to your postcode.

In addition, you could make it known that, if any team member is becoming anxious about finance, that you have a listening ear.

As Employers, we can take the initiative and mention to our teams that help is available if they are struggling.

Rinse and repeat this post with the words "parent" replacing "Employer" and "adult children" replacing "team".

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