Dealing with debt can make you feel isolated. There may be a sense of shame that stops you from talking to people you trust, and keeping your worries to yourself can take a toll on your mental health.
If you’re struggling with debt-related worry, it’s worth paying a visit to the MoneySavingExpert.com forum. The forum has almost 1.7 million members. Most of them are looking to save money, improve their budget or tackle their debt problems.
On their Debt-Free Wannabe (DFW) board you’ll find hundreds of people just like you who are dealing with – and overcoming – their debt problems.
You won’t find judgment there, but you will find support and inspiration to help you through your own journey out of debt.
We’ve published new research which shows that 2.1 million people were stuck in their overdraft for all of 2016. Sound familiar? We should be able to help.
Our research about overdrafts revealed that many people are stuck in their overdrafts, locked in a cycle of borrowing that’s hard to break free from. Overdrafts are meant to be dipped into occasionally to help with a short-term problem, but millions are relying on them to cover basic living costs.
But what can you do to try and get ‘back in the black’? We investigate four steps you can take to help.
When you’re trying to cut back on your spending, it’s almost inevitable that your social life might take a bit of a knock. You may be embarrassed about confiding in your friends about money worries, or even feel bad about turning down their invites to events.
We don’t want to see your friendships or relationships suffer while you’re dealing with debt, as having that support is really important to your wellbeing. The good news is it’s possible to keep your friendships strong, even if times are a little tougher than usual.
MoneyAware's part of StepChange Debt Charity. We're dedicated to providing money-making, money-saving and budgeting advice and tips for those managing on a tight budget. We also highlight debt news issues that affect those living with debt.
StepChange Debt Charity help 620,000 people a year with free debt advice and a comprehensive range of solutions.
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Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no.2757055). Authorised and regulated by the Financial Conduct Authority.