Millions of people in the UK are currently out of work – either after being made redundant from their job or simply having no work to go into after education – and things look set to get worse before they get better.
In a recent survey, debt advice experts, PayPlan found that money worries were affecting the mental health of 82% of people. When they did seek debt help, 81% saw an improvement in their mental health, which highlights the need to talk to somebody if you’re currently out of work and struggling.
To support unemployed workers with their financial wellbeing, PayPlan has put together expert tips to help with a sudden job loss or whilst looking for work.
Take a closer look at your finances
If you understand what money you have coming in and what you need to pay for, you’ll have a better picture of your overall financial situation. To get in control of your finances, use a monthly budget planner and write down everything that you need to pay for – splitting these payments out into priority and non-priority debts.
Priority debts include rent arrears,…