Personal finances continue to be one of the issues that most concern Mexicans, the low level of financial health among the population directly affects workers, who spend most of their time worrying about financial matters.
According to data provided by Invested to The Economist about him Study Financial well-being 2023which will be published in the coming days, revealed that only 60.98% of the women surveyed detected that financial stress directly affects their work activities.
christian hauswaldtdirector of Invested, explained that the majority of Mexicans are not clear about their personal finances, since many do not know key factors such as their income, expenses, objectives or goals, which creates difficulties in creating and following an action plan, which which in turn causes poor financial health.
According to data provided by Invested and that will be revealed in the 2023 Financial Well-being Study, millennials are positioned as the generation with the worst financial health compared to other generations such as centennials.
Technology for financial well-being
Currently, technological advances have allowed progress in financial well-being, Invested indicated that through a data system they have managed to develop a model in which a financial plan can be generated according to the needs of each user.
According to Hauswaldt, through data collected from the user, a financial plan is developed, which takes into account income, expenses, wealth creation, and financial goals, after which a financial well-being rating can be granted, in addition to simulate different scenarios in which the user can identify how a change can negatively or positively affect their finances.
The director of Invested explained that they have found cases of users who have contracted various insurance coverages, however due to factors such as age, these are no longer an adequate financial instrument for the user, through the model they can be identified and changed or eliminated. expenses, which generate a benefit in personal finances.
The expert indicated that in addition to preparing an action plan, constant financial advice is also generated to adapt the plan to the distance financial needs.
Hauswaldt explained that this model today has greater relevance among companies, since financial well-being is currently observed by companies as a key factor in maintaining financial health among employees, in addition to offering financial advisory services, more talent retention.
