Help managing financial stress

April is Stress Awareness Month and previously we have provided information and resources on what stress is and how we can best manage stress and prevent burnout.

In this article we want to provide you with advice and support to help you tackle the impact of “cost of living” increases on your finances and to help you with budget planning.  

First came the credit crunch, then the banking collapse, and then the recession. Now the pandemic and Russia’s invasion of Ukraine has plunged the UK into a cost of living crisis that has caused the biggest one-year drop in disposable income for over three decades. High energy, fuel and food prices, planned tax increases, and further increases in inflation have left thousands either without a job or fearing for their financial future.

No matter what our particular situation, most of us are having to renegotiate our relationship with money. When it comes to maintaining "healthy" finances, we're now needing to ask again what that might look like.

Budgeting tools

Our Employee Assistance Providers (EAP), Confidential Care (CiC), can assist with your financial planning, and can provide guidance on how to improve your finances and budget planning. To find out more about accessing budgeting tools for assessing your finances click here.

The login is username URlogin and password wellbeing (please use either Google Chrome or updated version of Microsoft Edge).

Debt management

Debt is an exhausting business, both financially and emotionally, especially in the current financial climate. The anxiety it invokes can drain life of joy and pleasure as well as putting personal relationships under intolerable pressure. But with the right kind of planning, you can make your debt a thing of the past. It might take longer for some than others, but there is no reason to continue battling alone.

You might find the following helpsheet useful: Debt Advice and Management

CiC offers free confidential advice and long term support to help you manage your finances more effectively. This service offers a hands-on approach to help you deal with all your debt concerns, restoring the freedom to focus on work, career and life-span objectives. The advice you receive is impartial, non-judgemental and focused on finding a realistic solution that is right for you, your family and your home

Available Mon-Fri, 8.00am to 8.00pm and Sat, 9.00 am to 1.00pm, accessed via the adviceline on 0800 085 1376