Money doesn’t = happiness...(as long as you're richer than your friends)
According to a study using Gallup World poll data from 160,000 adults in 24
countries, those earning more than their peers were more likely to feel happy/excited and less likely to feel stressed/sad or angry.
CHINA & UNITED STATES
Countries with a greater income inequality had the most prominent effect (the richest were significantly happier).
"People care very little about the actual figure they earn. They are more concerned with how their income compares with those around them."
(Nick Powdthavee, WBS Professor of behavioural science)
SO WHAT?
This study suggests...
In the workplace: your happiness is more likely to be influenced by how your salary compares to colleagues, rather than your precise salary.
In society: lowering income inequality is a way to improve national wellbeing
WOULD YOU RATHER EARN...?
£50,000 £40,000
When the rest of When the rest of
your friends earn your friends earn
£100,000 £20,000
Men More Likely to Quit their business start up
Men are 14% more likely than women to step down (govt funded study, University of Liverpool).
16.3% Vs. 18.6%
of women of men
quit their business each year
Women also...
stay longer at the helm despite making less money from their start ups than their male counterparts.
The study of 1,500 firms, 40k households and 100k people also found that running a business from home gives women flexibility, and also being the secondary bread winner meant their business was often subsidised by their partner.
Start up funding & women
According to the Rose Review (govt enquiry), women are...
Receiving 53% less capital on average than men
Less likely to take out a loan
Less aware of funding options
losing out on £250bn economic benefit because of the barriers
millennials most likely to fall victim to bank fraud
More than any other age group, millennials are falling prey to scams which involve handing over ££ to fraudsters (Lloyds Bank data).
£2,630
Average amount the 18 - 34 age group is losing to fraud
4x
The number of 18-34s being tricked has risen fourfold
£10,716
Average amount the 55+ hand over, BUT are LESS likely to be conned
What kinds of fraud?
Typically scammers are pretending to be...
Bank staff
The police
HMRC
Gareth Shaw, of consumer group Which? said “people are losing life-changing sums of money every day….”
Suspect fraud?
Immediately contact your bank/HMRC
or Action Fraud for more advice.
0300 123 2040
or
via their online reporting tool