Lets talk about the link between Debt and Mental Health

Opening up about personal finances can be a sore subject, especially when facing money issues or finding yourself spiralling into debt. 6 million Britons believe that they will never be debt free, with the average person in the UK owing up to a whopping £8,000! 

Ok, debt is a financial issue. But it can often lead to someone losing their home, relationship, family, and can pote ntially affect absolutely anyone. Whether you're employed or claiming benefits, falling behind on bills or being unable to pay back loans can bring you down. And whilst your income may just cover those ‘essential things’ in life, money doesn’t always stretch as far as covering built up debt from payday loans or credit cards.

Whilst worrying about the lack of money has effects on your social life and your ability to splash out on the finer things, it can also cause a fundamental change in your mental health, knocking your confidence and leaving you with the inability to think about your future or set goals and aspirations. One in two adults with debts has mental health problems, leaving people with long term effects such as depression and anxiety.

Research has shown that consumers with mental health problems believe their behaviour changes dramatically during periods of poor mental health. 93% say they spend more when unwell, 71% have put off dealing with creditors and 59% have taken out a loan they wouldn’t have taken out otherwise. The link between mental health and debt isn't something we can ignore.

The Better Off Finance program is here to help. We want to change the taboo of talking about money, support people in making their money go further and be a guiding hand to those who are ready to face their issues head on. So if you or anyone you know is out of work (don't have to be claiming benefits) and needs support, then get in touch and see if we can help.

About us: 

Better Off Finance is offering residents of the Liverpool City Region who are currently unemployed (although don't have to be claiming benefits), a bespoke programme of support. This support will be provided at a local community venue or at home if a participant prefers.

Each participant will be linked up with their own key worker who will support them to:

• Improve their financial capability through 1-2-1 support and group work

• Access employability sessions within the programme

• Access a Level 2 Accredited ‘Money Mentor’ opportunity

• Progress into training and education opportunities

• Prepare and progress into sustainable employment.

Please contact us via our Facebook or Twitter pages to make a referral or for further information.

Better Off Finance is a program jointly funded by The Big Lottery Fund and European Social Fund as part of the Building Better Opportunities Initiative 

Kim's Confidence Is Back On Track

Finding the confidence to start a job hunt after a long period of unemployment can be a struggle especially when lacking the knowledge on how to cope financially in the working world. This is how Kim Williams, who wanted to get back into the working world felt. Feeling scared to step back into employment, Kim's confidence felt knocked and she knew she needed to do something about it.  

Trying her best to keep up with her rent after she had been hit by the benefits cap, Kim was struggling to budget and built up rent arrears, after being unemployed for over a year she approached a citizen’s advice information session who told Kim about Better Off Finance and that’s when her life changed.

Attending six sessions with her dedicated key worker, she was supported in understanding her current finances better and even had help with her built up rent arrears. The key workers were able to talk Kim through the process of applying for a discretionary housing payment and she was awarded £677.63, which helped to clear up her rent arrears but also calmed her fears of falling into debt.

The thought of entering employment can leave the fear of  dread in some people which is down to not having a real understanding of your new income and having worries that your earning will still leave you struggling to pay rent and bills. To help overcome this fear, Kim was given advice and support to understand how a working income could support her and how budgeting her income could allow her to maintain financially stable.

“Before I was unsure on almost everything but now that I have had it explained properly and less technically I’m feeling I have better knowledge of things. I didn’t think I was good enough for work but now know that nothing is impossible. Before I feared starting work after so long but now I’m back in work and loving it”

Kim has now decided to start job hunting with the new-found confidence she has got from attending Better Off Finance and now has more knowledge about the hours she can work to be better off.

Thanks for sharing your story Kim, we're so happy Better Off Finance has helped you to improve your confidence and knowledge of income!

About us: 

Better Off Finance is offering residents of the Liverpool City Region who are currently unemployed (although don't have to be claiming benefits), a bespoke programme of support. This support will be provided at a local community venue or at home if a participant prefers.
Each participant will be linked up with their own key worker who will support them to:

• Improve their financial capability through 1-2-1 support and group work

• Access employability sessions within the programme

• Access a Level 2 Accredited ‘Money Mentor’ opportunity

• Progress into training and education opportunities

• Prepare and progress into sustainable employment.

Please contact us via our Facebook or Twitter pages to make a referral or for further information.
Better Off Finance is a program jointly funded by The Big Lottery Fund and European Social Fund as part of the Building Better Opportunities Initiative 

My Turn: This is Your Time to Think About You!

Working as part of the Better off Finance Programme were excited to introduce you all to our new 2-day programme of personal development, My Turn!

The My Turn Programme will provide the opportunity for you to take time out for yourself and think about ‘What’s next?’

 Across the sessions My Turn will have you looking at 

✅ Building your confidence

✅ Overcoming your barriers

✅  Your Skills and Qualities

✅ Driving your assertiveness

The programme offers you the opportunity to attend both days or just one day. 

Day 1 – Think, Believe and Achieve

 Will focus on different strategies you can use to become more confident and assertive and looks at:

·         Thinking of your positive achievements 

·         Becoming an effective thinker

·         Becoming more assertive

Day 2 – Positive Next Steps 

Will help you understand how to identify and take your next steps and looks at:

·         Identifying your barriers

·         Setting your goals

·         Using job search techiques

By attending the programme, My Turn could give you access to a specialist key worker who can help with taking goals further. Key Workers are specialists in financial capability, helping people understand more about their finances and personal needs whilst working towards these goals.  

You will also have the opportunity to attend accredited training through the Money Mentor scheme. The scheme offers guidance and training in order to go on and help other people with financial advice and support.

Dates are available in various locations around the Liverpool City Region (Liverpool, Knowsley, Sefton, Wirral, Halton, St Helens). This programme is open to men and women who are currently out of work. 


To book onto the programme or for more information call us on 0151 706 8111 or email us hello@thewo.org.uk

About us: 

Better Off Finance is offering residents of the Liverpool City Region who are currently unemployed (although don't have to be claiming benefits), a bespoke programme of support. This support will be provided at a local community venue or at home if a participant prefers.

Each participant will be linked up with their own key worker who will support them to:

• Improve their financial capability through 1-2-1 support and group work

• Access employability sessions within the programme

• Access a Level 2 Accredited ‘Money Mentor’ opportunity

• Progress into training and education opportunities

• Prepare and progress into sustainable employment.

Please contact us via our Facebook or Twitter pages to make a referral or for further information.

Better Off Finance is a program jointly funded by The Big Lottery Fund and European Social Fund as part of the Building Better Opportunities Initiative