COVID-19 has impacted every aspect of people’s lives and a looming recession means the worst may yet be in store. Having grown up in the wake of the 2008 crash, Gen Zers are already alert to financial precarity, but how will coming of age during a pandemic shape their relationship with money?
James Blower is the founder of savings consultancy and price comparison site The Savings Guru. The former managing director of Clydesdale Bank International, he was also the first savings director of Shawbrook and Masthaven Bank. Blower has bought more banks to market in the UK having worked with new licence entrants including Zopa, Oxbury, and Recognise, as well as launching new savings businesses for Harrods Bank and Arbuthnot Direct for Arbuthnot Latham. He also chairs the Association of Savings Professionals.
Kim Stephenson specialises in financial psychology. He spent a decade advising clients as a fee-based, qualified IFA and went on to qualify as a psychologist to coach and train how to think, feel, and behave with money to get the most of it. He guest lectures at various universities on psychology, risk, and finance, and is on the finance industry’s 'subject matter expert' lists. He’s also a tutor and assessor in postgraduate neuroscience. He’s written two popular books on the psychology of finance and maximising happiness from money: Finance is Personal for university students and Taming the Pound for the general reader.
Emmajo Read is a writer and copywriter based in London. She has a bachelor’s degree Sociology and a master’s in Cultural and Critical Studies. For Canvas8, she’s written about everything from sex and solitude to pet parents and veganism. She’s also written for Protein and DJ Magazine.
How have people levelled up their saving skills in lockdown? Why are structural changes needed to help women better prepare for retirement? How are freelancers streamlining money management? And what financial troubles are Gen Yers and Xers facing in the present and future?
The financial inequalities faced by women in America aren’t limited to a pay gap. Traditional gender expectations and a lack of tailored services mean that they’re also less prepared for retirement than men. So, how can women be encouraged to build a nest egg as they move through life?
The health crisis caused by COVID-19 is steadily making way for an economic crisis as businesses seek support in restarting operations and individuals face up to job insecurity. Canvas8 spoke to 17 people in the UK and US to find out how their spending habits have been impacted by the pandemic.
To make managing their money easier for Americans, the Dave app links with existing bank accounts and aims to keep people in the black by notifying them when they’re about to go into overdraft. It also breaks down anticipated ingoings and outgoings, giving users an easy way to budget.