Category Archives: Living with debt

A friend in need…what to do if someone you know is in debt

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Don't let your friend suffer in silence any longer.

Don’t let your friend suffer in silence any longer.

You’ve known for a while now that someone you care about is going through a rough patch with money.

Their face is constantly tight with worry and there’s a stack of bills on their side table. You can’t have a five-minute conversation without their phone ringing, and every time it does they let out a world-weary sigh.

There could be a whole host of reasons why they’re struggling, some you may not even be aware of. Maybe they recently had their hours cut at work, or their partner walked out. Perhaps their household expenses have been creeping up in price over time (you no doubt know yourself how expensive things are these days). You want to help but don’t know how.

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Don’t fall out with family and friends over money

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If you’re on a debt solution with us, get in touch with us before borrowing money off a loved one. It might be possible to reduce your payments to your debts temporarily to cover any emergency expenses.

No one wants to fall out with someone they care about over money.

Back in September 2016, our research showed how debt can damage relationships. Sometimes the person lending the money is struggling too.

 

This added pressure could result in the person lending the money blaming the borrower for their difficulties, which can damage relationships.

With this in mind, let’s look at the alternatives to borrowing money from your loved ones.

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How to get your credit report

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Getting your credit reportDo you worry about your credit score? Are you confused by people talking about their credit report? You’re not alone. Dealing with debts, and understanding your credit report can be daunting, but we’re here to help.

We’ll explain how you can get your credit report, what’s on and it and why your credit score is important so that you can feel confident about dealing with your finances.

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How does your mental health affect your money? Have your say.

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Bronwen Dalley Smith, Communications and Events Assistant for the Money and Mental Health Policy Institute, has written a guest post to tell us about the work they’re doing to support people dealing with debt and mental health problems.

Last year, nearly 600,000 people turned to StepChange Debt Charity for debt advice. That’s more than one person every minute of every day, throughout the whole of 2016. While this was StepChange’s highest yearly record to date, they were able to help.

At the Money and Mental Health Policy Institute we regularly talk to people who are getting their finances back on track with the help of StepChange Debt Charity. Yet, as a research charity exploring the link between financial difficulty and mental health, we couldn’t help but be concerned by this figure.

Half of British adults with a debt problem also have a mental health problem, so it can be assumed that nearly 300,000 of those who contacted StepChange last year were also struggling with poor mental health. The two are so closely entwined, that it is often impossible to identify which is the cause and which is the effect.

Whether mental health problems hinder your ability to manage your money or your financial situation worsens your mental health, once entered, the cycle can seem never-ending. Continue reading »

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Can you talk about debt with your partner?

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Did you know that money worries are one of the biggest causes of stress in a relationship? One plus One has released a series of videos that look at real couples’ stories about being in debt, how it affects relationships and how they got back on track.

One plus One is a charity dedicated to helping people build stronger relationships. They’ve recently been exploring the different reasons couples might get in debt, as well as the stresses that they experienced including working longer hours, spending less, and not being able to socialise.

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How to improve your chances of landing a fantastic job

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Landing yourself a job you actually enjoy can be easier said than done. Jasmine from MoneyMagpie believes in the importance of job satisfaction and getting paid to do what you love. She stopped by the blog to share her thoughts…

Jasmine Birtles from Money MagpieAre you looking for a job and wondering whether you’ll ever find the right one for you?

Having a job you enjoy can make a lot of difference to your overall happiness. Perhaps you used to love your job, but the ‘honeymoon period’ is starting to wane.

By taking another look at things you’re already doing, you might improve your chances of getting a job you truly want, or enjoying the one you currently have.

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Cheap and easy ways to organise your home  

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Most of us have things in our home we no longer want and could make some extra money by selling. Jasmine Birtles of MoneyMagpie is here to tell you all about Clear Your Clutter Day, and how you can get involved.

If you’re struggling with getting your finances in order, a cluttered house can add to the stress you may be feeling. By organising your home you may find it easier to get on top of your finances. Yes, really!

That’s part of the message of national Clear Your Clutter Day, happening on Saturday 11 March this year. It’s all about getting rid of the junk you no longer need so you can make way for the life and living space you want…and get some extra pennies in your pocket from selling stuff and saving money while you’re at it.

It doesn’t have to cost much (if anything) to get organised. Here are some quick, easy and cheap ways to de-clutter every room of the house.

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