We are proud to be supporting StepChange's Debt Awareness Week, taking place between 21st and 27th March 2022.
StepChange is a charity which specialises in helping people with debt. Less than 1 in 3 people will seek help with money problems until they reach a 'tipping point' (such as a sudden emergency) which makes the reality of their financial situation clear.
We are pleased to support StepChange with this campaign and know how important it is that everyone has access to free, impartial money advice. With the cost of living rising, it is more important than ever to discuss your finances openly, and seek help if you are being kept awake at night by money worries.
There have been studies undertaken on the impact of financial pressures on mental health, with evidence to support a strong link between the two. If you find yourself struggling with the pressure of money worries and it is affecting your mental health, help is there for you when you're ready.
What to do if you're struggling with debt or money worries
- Share your concerns with a friend or a relative that you trust. Money shouldn't be a taboo subject, and the more we talk openly and honestly about it, the easier it gets to seek help. All of us at some point in our lives will need financial guidance.
- Conduct an audit of your finances - can you increase the amount of money you have coming in, or cut down on spending? Putting together a comprehensive budget is the best way to understand your financial position and whether you can make any improvements.
- Seek help - whether from a charity such as StepChange, or your bank or Building Society in the first instance, particularly if you are worried about not being able to make payments. If you think you may have problems paying your mortgage, we are here to help. For more information, visit our problems with mortgage payments webpage.
If you're lucky enough to be free of money-worries, you can help by looking out for the signs of debt in your friends and family.
Useful online resources for managing your money
- StepChange's '60 Second Debt Test' can help you to identify if you need their debt advice
- MoneyHelper (previously the Money Advice Service) is a great government-backed organisation which provides help with anything from comparing car running costs to impartial pensions advice. They also have a free ten-week 'Couch to Financial Fitness' programme to help you build confidence in managing your money
- Turn2us is another brilliant charity, which has a useful benefits calculator to check what you might be entitled to, as well as help if you're worried about energy bills
- Debt and mental health support from StepChange
- Mental health advice and support from Mind
We are really proud to join in the conversation with StepChange and show our support for Debt Awareness Week. Debt can feel overwhelming and be difficult to talk about, but no one should feel alone. Free debt advice is out there and ready to help.