How are you? No, how are you really? Don't we always answer 'fine thanks' when anyone asks us how we are? Even when maybe, we actually aren't fine at all. 

If you are reading this, you've lived through some turbulent and traumatic times recently. There was the Credit Crunch, then the Covid pandemic led to lost jobs, low furlough pay, and for too many people, bereavement. Covid lingers on, and was joined by the Cost of Living Crisis. The invasion of Ukraine led to another massive shock to the economy, with fuel and food prices rising rapidly. 

Just writing that makes me feel tense. It also makes me realise that these are huge, global problems. If you are finding it hard to make ends meet, if you are struggling, you are probably feeling like it is your fault. We often blame ourselves. We look around and see what we think is everyone else getting on with it, and wondering why we can't. 

Of course, what we don't see is that those people who look like they are doing just fine are actually living in their overdraft or maxing out their credit cards. Everyone wants to keep up appearances, and as a nation, we aren't good about talking about money - especially our personal finances. 

All of this adds up to financial overwhelm. To feeling stressed out and hopeless, not knowing where to turn to for help, not being able to see a way out. And that is a miserable way to live. Do you find yourself

  • not checking your bank balance (maybe you are too scared to, or just don't want a reminder of how little is left)
  • living pay-check to pay-check, or finding the money runs out before the next pay-check comes
  • worrying about the future
  • missing payments, or paying late
  • feeling like there is no point even trying to save
  • spending money to try and feel better, then regretting it afterwards

If you find yourself nodding, you have a case of financial overwhelm. So many of us have been there, and if feels horrible. The good news is that help is out there, and even though you feel this way now, you won't feel this way forever. 

Here is your reality check...this isn't your fault. It is an overused phrase, but these are unprecedented times. Money management isn't something we are taught at schools, and not all of us have grown up with good examples of healthy money habits to copy. Be kind to yourself- beating yourself up isn't going to make things any easier for you. 

Feeling scared is an understandable reaction, but not knowing your situation won't make the problems go away. At best, your situation may not be as bad as you think, in which case you are wasting your precious time and energy worrying more than you need to. At worst, your situation may be more difficult than you first thought, and ignoring it will only make it worse. 

The first thing you need to do is know

  • how much money you have coming in, and when.
  • how much money (if any) you have in savings. 
  • how much money you have going out - bills, groceries, etc.
  • how much money you owe - and how much minimum payments are, and when they must be made. 

Now you need to know who can help you - maybe you need help untangling it all, understanding your bills, making a plan for getting out of debt. Perhaps you need to know what your options are, or need some emergency help.  

Citizens Advice is a great place to start. 

  • They are free and impartial - but their service is in high demand. They cannot advise you what to do, but they can give you the information you need to make a choice, know what your options are, and how to do things. 
  • They cover the cost of living, debt, budgeting, food banks, mortgage problems, rent arrears, borrowing money, banking, pensions, and more. 
  • https://www.citizensadvice.org.uk/debt-and-money/get-help-with-the-cost-of-living/

StepChange is the UK's leading debt charity. 

  • Give impartial confidential debt advice
  • You can speak to someone, or go online, or use a mixture. 
  • They will help you make a 'personal action plan' with information about debt solutions that are right for you, and how to set them up
  • They have lots of free information about County Court Judgements, Bailiffs, Debt Collections, Payment Breaks and more. 

 Holdfast Credit Union

We help our members with budgeting advice, we can help you understand your bills, make a savings plan, and understand your situation. We can refer you to sources of support - we can issue food bank vouchers to those who need them, and signpost to local grant schemes as well. Impartial, confidential, and more informal - you can chat with us and we can help you access other services if you need to. Just give us a call, or drop us an email to get started. 

Social Prescribing

  • Health and wellbeing is about more than just 'not being ill', and many GPs now have a Social Prescriber (you can also self-refer) who can help you improve the way you feel in yourself. 
  • If money worries are taking their toll, try this free service. 
  • They can prescribe you a range of activities that are provided by voluntary, community sector and private organisations, arts activities, group learning, gardening, befriending, cookery. 
  • https://www.activeessex.org/health-wellbeing/social-prescribing/

Just remember, be kind to yourself, don't ignore things and hope they will go away, and make sure you reach out for help. 

"You are braver than you  believe, stronger than you seem, smarter than you think, and more loved than you will ever know."

+A.A. Milne