Getting advice on bankruptcy could do more than just safeguard your finances – it could also help you to feel more at ease in your own mind.
It might seem like simple logic that organising your finances should come as a relief when you are facing difficulties, but now that logic is backed up by research.
Savings and investment specialist Standard Life used neuroimaging to scientifically assess the emotions experienced by different people when managing their finances.
Importantly, the researchers found that those who regularly check their finances are more likely to feel calm, hopeful, confident and optimistic.
Conversely, those with no regular schedule for checking their finances are much more likely to feel insecure, pessimistic, anxious and even hopeless.
The research focused specifically on people’s saving plans, but for those in financial hardship it is likely that advice on bankruptcy could equally help to restore some confidence.
For those who run small businesses – or even large firms – that could play an important part in reducing stress levels, leaving managers’ minds clear to make the essential business decisions needed to restore companies to a profitable state.