Mindset Building Blocks – paying attention to things that matter to us Building block What it means Why it matters Happiness Experiencing equal amounts of joy and purpose everyday. Only 1 in 5 people are very aware of the day-to-day experiences that give them joy and purpose in life. Future self A firm picture of where we want to be in the future can help us get there. Just 1 in 3 of us has a concrete vision of the things and experiences our future self might want. Written plans People who write out a financial plan save more regularly and do better financially. Only 18% of us have a plan to achieve our long term money goals. Social comparisons Our financial wellbeing can be changed by how we compare ourselves to others. Regardless of how much we earn and have, we’re more likely to compare ourselves to those who’re better off. Long-term perspective Bad news can make us panic and make bad investment decisions – particularly given the current economic climate. 1 in 5 of those asked feel nervous when markets and their investments fall in value – with some of them are reacting in ways they might later regret. 12 A decade of auto-enrolment: has it helped or hindered saving psychology?
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