Up to a quarter of the UK workforce are, to some extent, experiencing financial insecurity. This could be as a result of debt, insecure working hours, or difficulty meeting day to day living costs such as rent and other essential bills. Two thirds of this group also report at least one sign of poor mental health, such as difficulties sleeping and concentrating. They may find themselves spending an increasing amount of time worrying about bills and visits from bailiffs, or experiencing feelings of anxiety and panic attacks.
Helping you and your family cope with financial stress
Here are some ways you can help manage financial stress
Face your fears
If it looks like you’re going into debt, get advice on how to prioritise your debts. When people feel anxious, they sometimes avoid talking to others. Some people can lose their confidence about driving or travelling. If this starts to happen, facing up to these situations will generally make them easier.
Don't lose your daily routine
Get up at your normal time and stick to your routine. If you lose your routine, it can also affect your eating: you may stop cooking, miss breakfast because you’re still in bed or eat snacks instead of having proper meals.
Citizens Advice is a good place to get information about benefits, how to deal with debt, what you’re entitled to if you’re made redundant and who to speak to if you’re at risk of losing your home.
Finding a new job
The jobseekers section on GOV.UK provides lots of advice for people looking for work, including tips on writing a CV, planning your job hunt and applying for jobs online.
COVID-19 Specific Help
Mortgage payment holiday
The Chancellor announced that mortgage lenders have agreed they will support customers through payment holidays. Please contact your mortgage lender directly if you’re affected by Coronavirus and wish to consider this option.
Support for Businesses
If your family member has a business - the government has announced a range of financial measures to support businesses at this time and further information is available here.
We recognise how much money worries and stress can affect the overall wellbeing of our people and that is why we’re opening the door to fairer finance with this employee benefit: to help you take control when it comes to money matters. NCH&C works with Neyber to offer employees products for an easier financial life.
Neyber has lots of useful resources, articles, and hints for you to get on top of your finances.
It’s quick & easy to sign up using your work email address. This will give you access to all of the resources Neyber has to offer. Click here.
Your professional body or union
Don’t forget that your Professional Body or Union may be able to assist you with resources at times of difficulty. Check out their individual web pages to understand how they may be able to support you.
Discounts and offers
There is a dedicated section on NHS Employers including discounts for NHS Staff which you can find by clicking here. In addition you could consider Health Service Discounts or the Blue Light Card for regularly changing offers on everyday products and service.
Useful links and resources
If you’re worried, stressed or anxious about your finances, don’t suffer in silence. Talk to those around you or you can access the following services to help.
Money Advice Service
The Money Advice Service is a free advisory organisation set up by the Government providing you with a wide ranging resource for all money related matters.
Step Change have more than 25 years’ experience providing free, expert debt advice. They offer the widest range of practical debt solutions of any provider in the UK no matter how small or large the debt you have.
The NHS Website has a wide range of advice, support and links to organisations who can help you with addiction issues related to Gambling.
National Helpline Number – 0800 8020 133
Stop Loan Scheme
Stop loan sharks provide specialist support, help and advice for victims of loan sharks during this difficult time.
Telephone: 0300 555 2222