March will be focusing on finances and debt. With the cost of living crisis at an all time high, many people are struggling to make ends meet and to pay the ever-increasing bills.
The Royal British Legion have launched a scheme to provide support to veterans who are struggling – apply here https://www.britishlegion.org.uk/get-support/financial-and-employment-support/finance/grants/cost-of-living-grants.
These sudden changes to your life can cause a lot of worry that you might not have been dealing with previously. If this is the case, then don’t be afraid to seek out the support you need. Thousands of people are struggling, for many different reasons. You’re not alone, and there is a way forward.
Six-step guide to dealing with debt and stress:
- Spot the signs of debt stress in your life: Feeling sad, sick or overwhelmed at the thought of debt, struggling to sleep or eat properly due to worrying about debt, feeling withdrawn from friends, family and loved ones due to worrying over debt; finding it difficult to concentrate on work or other responsibilities; already dealing with depression, anxiety or other mental illnesses.
- Talk to someone you trust about your worries: Do you have a family member or friend you can talk to in confidence? You might feel uneasy about talking to your loved ones about debt. However, talking to someone you trust can help you feel less alone. Not everyone has a person in their life that they feel they can confide in. Fortunately, there are several organisations that can provide the support you need.
- Get debt advice if you need it: By getting free and confidential advice, you can take control of your situation. There are some organisations below that you can contact for support.
- Make your creditors aware of any issues you have and how they can support you: If you’re struggling to pay certain bills, find out if you can get help from your creditors. If you need support with your mental health, then it’s really important to make them aware. They want to help you deal with your money worries, not make them worse. You can send your creditors a debt and mental health evidence form (DMHEF). This gives your creditors permission to receive information from your doctor so they can better understand what you’re going through. In order to send a DMHEF to your creditors, you’ll need to chat to a health or care professional first. They’ll need to authorise the form, and due to the coronavirus crisis there may be a delay with this.
- Take small steps towards a better financial future: It’s hard to know where to start or what your options are. However, putting together a budget and prioritising your priority bills form your non-priority bills cane be a good start.
- Connect with others who know what you’re going through: Money Saving Expert (link below) has an online community where members can talk anonymously about their worries, and share tips on how to turn their finances around.
Here are a few resources to look at:
https://www.moneysavingexpert.com/
https://www.veteransgateway.org.uk/finance-money-advice-for-veterans/
https://www.ssafa.org.uk/get-help/welfare-and-benefits/financial-planning-support
https://www.gov.uk/cost-of-living
https://www.citizensadvice.org.uk/debt-and-money/get-help-with-the-cost-of-living/
Also to note this month:
Combat Stress are running ‘March in March’ , a fundraising event to raise money to veterans care and treatment – Complete 10 miles during March, give your mental and physical health a much-needed boost, and raise funds to enable us to continue delivering our life-changing services. Submit evidence of your achievement and you’ll receive a special commemorative medal. The event costs just £15 to register to take part. Participants are also encouraged to try to raise as much as they can in sponsorship. To find out more and to register, visit marchinmarch.co.uk. March in March is a virtual event – you don’t have to physically turn up to a race start line. How and where (within your local area) you complete the challenge is up to you so even with COVID-19 restrictions this is a fundraising event we can all take part in. Simply register online, decide when and where you’re going to walk and get started!