Money worries

It can be difficult to know where to start when you’re worried about your finances. With the rising cost of living and an unpredictable economic environment, it can be hard to regain control. But you don’t have to face it alone. Support is available and there are practical steps you can take.

On this page we’ll explain where you can find support and advice for any money worries you have.

Common causes of money worries 

Unexpected bills, like urgent car repairs, home emergencies or sudden medical costs, can put pressure on your finances at short notice. Here are some of other common causes of money worries.

Income shock

Income shock is a sudden drop in income that can affect your finances. This could be because of:

• Redundancy
• Divorce or relationship breakdown
•  Illness or injury
• An accident
• Change in benefits

A life change like this can be overwhelming and add more pressure to your day-to-day life, especially if your budget is already stretched. There are organisations that can help support income shock such as Money Helper. They offer guidance on budgeting, saving money and boosting your income.

Increase in debt

Many people are living with debt. With the cost-of-living crisis and general life becoming more expensive, borrowing money is sometimes the only option. But if your debt is causing you concern or affecting your mental and financial wellbeing, you don’t have to go through it alone.

There are organisations and charities that can help, such as:

• National Debt Line
• StepChange

Independent advice and support 

Speaking to financial experts could ease some of your worries and help you create a plan going forward.

• Unbiased helps you to search for a financial adviser in your area for free
• The Citizens Advice Bureau is a network of independent UK charities that offer impartial advice
• Money Helper offers guidance on debt, protecting your finances and budgeting
• The Money Saving Expert focuses on helping you to cut costs and find the right deals for you

Speak to a financial adviser

An independent financial adviser can help work through your financial situation with you. They can also recommend products or services that they think will suit your needs. You can find out more about why it might be worth considering financial advice and how to find an adviser here.

How we can support you 

We understand that your financial situation is personal to you, and you might not feel comfortable talking to us about it. But we’re here to support you. If you have any concerns about making payments, or any questions in general, please reach out to us. We can talk it through with you and try to find a solution. You can find our contact details here.