Although this latest research suggests that spending habits are formed by the age of 7, habits can be relearned and can be changed.

Learning how to make the most of our money can start at any age and indeed needs to be an ongoing and lifelong commitment. As we move through life and our choices, circumstances and needs become more complex, one could argue that there is a growing need for education around finances and personal financial planning.

Improving personal finances can also positively impact health; financial wellness goes hand in hand with physical and mental health to form overall health.

We are all individually responsible for our own health and wellbeing, including our finances. But we can also all benefit from specialist guidance and this is what financial education and financial wellness programmes can help to achieve.