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Finances & Cost of Living
Overall, nearly two-thirds (63%) of UK adults have been concerned about a friend, family member or colleague’s mental wellbeing, linked to money worries. It's an important part of our overall wellbeing.
1. Conversation starters
This information will enable you to make a brief intervention - ASK, ASSIST and ACT:

Do you have any worries relating to money, budgeting, borrowing or debt?

If you do there are a range of services that can provide support for you to help you with your finances. You don't have to go through this alone. Would you like some more information about these services? 

How confident are you about a budget setting, sticking to it and how to save?

 

  • A debt advisor will never judge anyone or make them feel bad about their financial situation 
  • They will work with you to find a way to manage debts, even when people feel that they have no spare money 
  • Most people who seek help from a debt advisor feel better afterwards - less stressed or anxious and more in control of their life again 

 

Did you know that there are services available that offer a range of free advice on anything that you might be struggling to pay for?

A debt adviser will never judge you or make you feel bad about their situation and that they will work with you to find way find ways to manage debt. Most people who have received debt advice feel less stressed or anxious and more in control of their life again. 

Do you want some more information on local services who can help?

Are you experiencing any money worries at the moment?

How do you feel about your current money situation?

You can explore this question by asking about the types of words they would use to describe how it makes them feel, how much time they spend thinking about money or if they try to block out thoughts about money.

Is anyone helping you with your money or benefits at the moment?

This could include:

  • a family member or friend
  • bank, loans company or credit union
  • local council
  • advice centre ike Citizens Advice
  • community group
  • place of worship
2. Search Finances & Cost of Living local services

Other useful regional services:

Further information & links
This section contains useful advice and links which will automatically be sent to users along with the link to the local service you have recommended.

Pension Credit

Use this collection of materials to help older people understand how they could get Pension Credit.

This toolkit is for anyone who works with pensioners. Use it to help older people understand how they may get extra money every week by:

  • increasing understanding in your organisation
  • helping your customers find out if they could get Pension Credit

The toolkit contains:

  • guidance to help you understand Pension Credit
  • information to help you support someone applying for Pension Credit
  • common reasons why pensioners don’t claim
  • ideas for events and dealing with the media
  • useful contacts

The Pension Credit toolkit can be accessed here: Pension Credit

What is financial wellbeing?

It is about feeling secure and in control. It is knowing that you can pay the bills today, can deal with the unexpected, and are on track for a healthy financial future.

What is inflation?

Inflation is the term we use to describe rising prices. How quickly prices go up is called the rate of inflation.

A low and stable rate of inflation helps to create a healthy economy. The Government sets a target for how much prices overall should go up each year in the UK. That target is 2%. It’s the Bank of England job to keep inflation at that target.

A little bit of inflation is helpful. But high and unstable rates of inflation can be harmful.

Budget Planner

MoneyHelper want to help you know exactly where your money is being spent, and how much you’ve got coming in. Knowing where every pound is being spent is a great first step to starting your savings, getting out of debt or preparing for retirement. Their Budget Planner can help.

They’ll give you:

  •  a place to record all your spending, so you won’t forget anything
  •  a breakdown of your finances by category
  •  personalised tips when you’re all finished

Access via Budget Planner

Bill Prioritiser

It can be difficult to manage all the different bills and payments in our lives. The consequences of missing some types of bills can be more serious than if you fall behind on others.

The MoneyHelper Bill prioritiser can help you put your bills and payments in the right order. If you’re struggling to pay, it will tell you what to do before you miss a payment in two easy steps.

Access this via Bill Prioritiser

Credit Card Calculator

Credit cards are like having a loan for the amount you’ve spent using the card. They’re easy to carry, offer a way to buy-now-pay-later, and give you buyer’s protection. It’s easy to get stung with a credit card though.

Access the calculator via Credit Card Calculator

Breathing Space (Debt Respite Scheme)

If you live in England or Wales, you can get temporary protection from your creditors while you get debt advice and make a plan. This scheme is called ‘Breathing Space’. You can get temporary protection for up to 60 days.

You’ll still need to make your debt repayments.

If you get it:

  • enforcement action cannot be taken against you
  • your creditors cannot contact you about debts included in your Breathing Space
  • your creditors cannot add interest or charges to your debt

If you’re getting mental health crisis treatment, your protection from creditors will be longer. It will last for the length of your treatment, plus another 30 days.

To apply for the ‘Breathing Space’ scheme, you need to talk to a debt adviser. They will submit an application on your behalf if it’s the right thing to do.It’s free to apply for ‘Breathing Space’, but some debt advisers may charge you a fee.

Find out more at Breathing Space

Citizens Advice 


National Debt Line


GOV UK: options for paying off debts


GOV UK: applying for a budgeting loan


Step Change


NE first Credit Union


Gov UK: report a loan shark


Stop loan sharks


Money and Mental Health


Mental Health and Money


MoneyHelper


Fighting UK Poverty - Turn2us


Advice Local


Help for Households


Inbest


Lloyds Bank Academy