Leeds hair salon cuts through the noise about investing with free haircuts in exchange for a chat about money

• Over one in three (35%) savers in Leeds want to learn more about investing, yet six in 10 rarely talk about it
• Over one in four (28%) savers say speaking to someone they know about investing would make them feel more confident about getting started
• On Wednesday 8th July, iconic Leeds hair salon, Renaissance Hair & Beauty, is partnering with Anna Brading, financial education instructor and author to encourage more open conversations about money and investing

One of Leeds’ most popular and long-standing hair and beauty salons has teamed up with the nationwide Invest for the Future campaign to get Leeds talking more openly about investing.

On Wednesday 8th July, Renaissance Hair & Beauty, on Albion Place, will be offering customers the chance to receive a free haircut, or money off their appointment, in exchange for joining the conversation about investing.

While they are in the chair, financial education instructor and author Anna Brading will be on hand to answer questions and help people better understand whether investing could play a role in their long-term financial goals.

People in Leeds are curious about investing, but rarely talk about it

New research suggests over one in three (35%) savers who live in Leeds say they are curious to learn more about investing, suggesting local people are looking to make more of their money.

The study, which was commissioned by the industry-backed, Invest for the Future campaign, also reveals the barriers currently holding locals back.

Nearly seven in 10 (68%) savers say it feels like “a big step”, and many don’t know where to start (27%).

Part of the reason for that may be because it is so rarely talked about openly in everyday life - over six in 10 (61%) Leeds residents say they rarely or never discuss it.

The research highlights a clear opportunity to normalise investing and build confidence by making conversations about it more visible and accessible.

In fact, over one in four (28%) local savers say they would feel more likely to invest after a conversation with someone they know.

The partnership with Renaissance Hair & Beauty aims to encourage relaxed, no-nonsense conversations about investing

The relationship between hairdressers and conversation is a well-known cultural staple. This partnership will encourage customers to take part in a relaxed chat all about investing and money, and in exchange for taking part, they will receive their haircut for free. With the hairdresser’s chair commonly considered a safe space for low-stakes conversation, it’s the perfect place for people to ask questions, hear real-life experiences and talk more openly about long-term financial goals.

Anna Brading said: "The research shows that people in Leeds are interested in learning more about investing, but many still feel it's a big step and don't know where to begin. That's completely understandable when investing can seem full of jargon and isn't something many of us talk about day to day.

"What I love about this partnership with Renaissance Hair & Beauty is that it makes use of a space where people are relaxed, and where they can ask questions without feeling judged. My role isn't to tell people what to do with their money, but to help demystify investing, to challenge some of those common misconceptions and to show that getting started doesn't have to be overwhelming."

The Invest for the Future campaign is backed by major UK financial firms including Barclays and NatWest, who have a strong presence in Leeds. It aims to spark everyday conversations about investing, and address some of the concerns that people may have. 

For example, while fear of loss is one of the biggest barriers stopping savers in the region from taking the next step, leaving too much money sitting in cash over the long term can also carry risks, as its value can be eroded by inflation.  

Looking back over the last 20 years, research from Barclays shows that after taking account of interest earned, inflation and investment fees cash would have reduced in value by 40.5% while an illustrative diversified investment portfolio of UK assets would have gone up 21.6%. In real terms that means £1,000 in cash savings would now be worth £595 compared to £1,216 invested 

Clare Francis, Savings and Investments Director at Barclays said:

“For too long, many people have felt investing is not for them. Yet research shows many savers in Leeds want to learn more and are actively looking for ways to make their money work harder over the long term.

Renaissance Hair & Beauty is a much-loved part of the Leeds community and a place where people naturally connect and chat. By taking the conversation beyond traditional financial settings and into familiar community spaces, Barclays wants to help more people feel confident to engage with investing, explore their options and take that first step towards building their financial future.”

Malcolm Buchanan, Chair, NatWest North Regional Board said:

“This new research from the Investment Association illustrates what we hear from members of the public who take part in our Financial Foundations and Financial Health Check programmes – people want to invest but often feel that they don’t know where to look or how to start.

 “By taking Invest for the Future into the heart of the Leeds’ community and into an environment where people feel comfortable sharing their stories and experiences, it has the potential to encourage others to take their first investment step and realise that this is something that everyone can benefit from.”