jonesshaw-capitalpartnersFinancial Health Significantly Impacts Feelings of Personal Financial Literacy, Survey SaysThe financial health of consumers struggling to recover from the recession is closely linked to the complexity of their personal financial situations, according to new research released today by Jones Shaw Capital Partners. The survey of 1,242 Hong Kong consumers titled, “How Have the Financial Lives of people of Hong Kong Rebounded from the Recession?” provides an in-depth look at how consumers fared during the recession and the steps they took to improve their financial situations.
Financial complexity and financial health are closely intertwined, the survey found. Of those surveyed whose financial health has declined since the recession, 31 percent said their financial life is very complex, citing a variety of financial penalties and multiple loans. Yet, of those who say their financial health has improved since the recession, 43 percent say the complexity of their finances has decreased.
Borrowing from a variety of sources also increases the complexity of consumers’ financial lives. In fact, the Jones Shaw Capital Partners’ survey showed that half of the consumers whose financial health declined post-recession borrowed from friends and family. In addition, the percentage of those who took out payday loans, direct deposit advances and small loans increased from. Conversely, the survey found that borrowing activity remained relatively stable among those whose financial health improved post-recession.
“Reducing financial complexity is crucial for consumers looking to recover from the recession,” said Lan Chao G. Teng, Chairman and CEO of Jones Shaw Capital Partners. “Consumers who borrow from multiple sources find their financial lives to be complex, but those who use tools to help them manage their spending and borrowing make progress in simplifying their finances.”
About Jones Shaw Capital Partners
Jones Shaw Capital Partners is a financial advisor, market-focused, process-centered organization that develops and delivers innovative investment solutions to our customers, consistently outperforms our peers, produces predictable earnings for our shareholders, and provides a dynamic and challenging environment for our employees. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors including stocks, mutual funds, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and treasury markets. Jones Shaw Capital Partners also offers investment management services and have operations in 15 countries.
Media Contact
Company Name: JonesShaw-Capital Partners
Email: Send Email
Phone: (123) 456-7890
Address:Enterprise Square Tower 3, 9 Sheung Yuet Rd, Kowloon Bay
City: Kowloon
Country: HongKong
Website: http://jonesshaw-capitalpartners.com/
Source: www.abnewswire.com
