Debt Awareness Week
This week is Debt Awareness Week 2022. A week created by Step Change to help people to open up about their debt and get the help that they need.
It is important to be open with loved ones or a support network about your struggles with debt, as it is difficult to get through alone, and there is help out there. Money worries are often linked to mental health struggles with many people saying that it leads them to experience depression, stress, or anxiety.
The first step to getting back on track is opening up. There is nothing to be ashamed of, anyone can get into debt for a variety of reasons, all that matters now is that you seek help.
Talk to someone you trust
They may be able to help you set up a budget or find out ways to increase income and decrease spending with you, as well as helping you to understand and deal with any letters. They can also be your cheerleader, so that you don’t have to go through this alone.
Tell your partner
If you are in a relationship, and it is safe, it is best to make sure your partner is also aware of the debt, as they are likely to know that something is wrong anyway. Keeping it from them can create more stress and strain on your relationship. Reassure them that you are dealing with the problem, making progress, and ask that they support you in the process going forwards.
Look after yourself
Debt can create a huge amount of stress, so it is important to look after yourself in other ways. Make sure you take time to go on walks and do things you enjoy with the people who are there to support you. Eat well, exercise, and rest – all free to do and the most important way to look after your mental health.
If you are not ready to open up about your debt yet, that is okay too. There are plenty of resources online to help you out. Here is a Mental Health and Money Toolkit to help you to manage your finances and your mental health: Mental Health and Money Toolkit : Mental Health & Money Advice
If you need help now, there are a variety of government schemes offering financial help, as well as foodbanks if you need help affording food. Find more information on Step Change’s website here: Emergency Help If You Have No Money Or Food.
You may also want to talk to our Support Services Team, who can provide budgeting advice and signpost you to agencies that can help you further.