Visualising Financial Wellness in Europe
Trends /
Wellness
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Financial wellness is considered the overall financial health of an individual. This concept is about practicing better money habits, setting goals, and taking steps to achieve them. As their financial wellness increases, so should quality of life.
European iStock by Getty Images customers’ visual searches for “financial wellbeing” increased +67% year on year. There is a subtle distinction between ‘wellness and ‘wellbeing’. Wellbeing has a much broader meaning, in addition to physical and mental health. So, how can European financial companies visualise both?
European iStock by Getty Images customers’ visual searches for “financial wellbeing” increased +67% year on year. There is a subtle distinction between ‘wellness and ‘wellbeing’. Wellbeing has a much broader meaning, in addition to physical and mental health. So, how can European financial companies visualise both?
Visualising financial literacy
While financial wellness is a goal most would like to achieve, just over half of European adults are “financially literate”.1 The exception is many of the Nordics countries which boast the highest financial literacy rates, as financial education is mandatory in some schools.2 Our VisualGPS consumer survey reveals that 70% of Gen Zs have used technology to provide them with advice or recommendations. At the same time, Gen Zs are seeking to improve their knowledge around financial literacy.3 There are a few FinTech solutions looking to empower Gen Zs. Quirk, a UK based financial wellness platform, combines budgeting features and financial planning tools in a gamified app with social features that is designed to appeal to Gen Z.4
Financial confidence is key for young adults. Our VisualGPS consumer survey shows that 60% of Gen Zs feel empowered by all the technology available to them. It’s important to use visuals that promote a sense of positivity around personal accounting, budgeting, and saving. Whether at home or in an office environment, using laptops or mobile devices—by selecting these visuals, financial companies are empowering their customers to make choices that help them to manage their financial goals independently.
While financial wellness is a goal most would like to achieve, just over half of European adults are “financially literate”.1 The exception is many of the Nordics countries which boast the highest financial literacy rates, as financial education is mandatory in some schools.2 Our VisualGPS consumer survey reveals that 70% of Gen Zs have used technology to provide them with advice or recommendations. At the same time, Gen Zs are seeking to improve their knowledge around financial literacy.3 There are a few FinTech solutions looking to empower Gen Zs. Quirk, a UK based financial wellness platform, combines budgeting features and financial planning tools in a gamified app with social features that is designed to appeal to Gen Z.4
Financial confidence is key for young adults. Our VisualGPS consumer survey shows that 60% of Gen Zs feel empowered by all the technology available to them. It’s important to use visuals that promote a sense of positivity around personal accounting, budgeting, and saving. Whether at home or in an office environment, using laptops or mobile devices—by selecting these visuals, financial companies are empowering their customers to make choices that help them to manage their financial goals independently.
Securing a good night's sleep
Our VisualGPS consumer survey shows that 9 in 10 Europeans feel it is equally important to take care of themselves emotionally as well as physically, while 9 in 10 would like to see more support for those with mental health issues. ‘Mental health’ searches increased by +69% year on year, showing that our customers are exploring the broader context of how mental health is visually shown. People of all ages are seen spending time with family, spending time in nature or practicing mindfulness. There is an overwhelming visual focus on seniors being active through physical health and fitness. According to the Mental Health Foundation Survey, 1 in 3 UK adults say financial stress has an impact on their sleep patterns. Europeans' mental health is suffering as a direct result of inflation, rising energy bills and other increased financial pressures.5
Financial companies have a responsibility through their visual storytelling to help normalise conversations around financial and mental wellbeing. Our VisualGPS reveals that 8 in 10 Europeans would like companies to care about them as a human being and not just as a customer. Here, there is an opportunity for companies to connect with consumers by highlighting togetherness, empathy and proactive care moments. When choosing visual stories, think about the following points:
Our VisualGPS consumer survey shows that 9 in 10 Europeans feel it is equally important to take care of themselves emotionally as well as physically, while 9 in 10 would like to see more support for those with mental health issues. ‘Mental health’ searches increased by +69% year on year, showing that our customers are exploring the broader context of how mental health is visually shown. People of all ages are seen spending time with family, spending time in nature or practicing mindfulness. There is an overwhelming visual focus on seniors being active through physical health and fitness. According to the Mental Health Foundation Survey, 1 in 3 UK adults say financial stress has an impact on their sleep patterns. Europeans' mental health is suffering as a direct result of inflation, rising energy bills and other increased financial pressures.5
Financial companies have a responsibility through their visual storytelling to help normalise conversations around financial and mental wellbeing. Our VisualGPS reveals that 8 in 10 Europeans would like companies to care about them as a human being and not just as a customer. Here, there is an opportunity for companies to connect with consumers by highlighting togetherness, empathy and proactive care moments. When choosing visual stories, think about the following points:
- Are you focusing on financial inclusion? Are you representing your
audience across different backgrounds and identities by factoring in what
financial wellbeing means to them? - Do your visual choices show empathy? Are you showing a range of emotions?
- Are you showing innovative ways to combat financial challenging times? Do your
visual choices inspire action? - When selecting visuals, are you thinking of younger generations?
