Managing Financial Stress: A Practical Guide

Money matters can be a real headache sometimes, can't they? But guess what? Dealing with financial stress doesn't have to be rocket science. In this simple guide, we break down the basics of managing your money worries. No fancy terms, just practical tips to help you breathe a bit easier when it comes to your finances. Let's jump right in!

Claim what you’re entitled to.

If you are feeling the weight of money problems, it can be tough at times, but you are not alone. The good news is, depending on your situation, there might be government support available, ready to lend a helping hand.

What can I do?

• Use online benefit calculators: The government offers a range of reliable tools here. You’ll need information about your income, savings, and existing benefits to get an estimate
• Check out local support: Local authorities provide a range of benefits, grants and subsidies, so visit your council’s website to find out what’s available. You can find your local council by your postcode on this website.
• Contact Citizens Advice: They provide free and confidential advice on a range of issues, including benefits. Trained advisors can help you understand what benefits you might be eligible for and guide you through the application process. Search for your local branch here

Use your work benefits.

How often do you check out the benefits offered by your employer? It’s possible you could be missing out on valuable support that could help. Remember that your employer wants you to make the most of your benefits, so don’t hesitate to use them when needed.

What can I do?

• Reach out to your HR/Benefits team: They can provide information about your employee benefits and can help you understand the full scope of what you might be entitled to.
• Log in to your company’s intranet or benefit portal: Many employers provide online platforms where employees can access and manage their benefits. This is where you can find information on your current benefits and additional offerings you might not be aware of - including employee assistance programmes (EAPs) that provide support for personal challenges, including financial stress.
• Explore your options through Salary Finance: Did you know you have access to Salary Finance through your employer? This could include options to borrow affordably through salary, access your pay when you need it, save easily through salary and access free financial resources to support you with your money. Find out what’s available by typing your employer name here

Ask for help if you need it. 

Asking for help when you're in financial stress can be challenging, but it's an essential step towards finding solutions. Remember, you don't have to navigate this by yourself – seeking help is a proactive step towards getting back in control.

What can I do?

• Identify Trusted Individuals: Choose people you trust, such as close friends, family members, or mentors, to discuss your financial challenges. Having a supportive and understanding network is needed during difficult times.
• Be Open and Honest: Approach conversations with openness and honesty. Be clear about  your financial situation, including the reasons for your stress. Being transparent helps others understand your needs and concerns.
• Seek Professional Guidance: Consider reaching out to financial professionals. They can provide advice on managing debt, creating a budget, and exploring potential solutions. Nonprofit organisations are also available to assist with debt management plans.

Find resources online

Accessing free money resources online can be a game-changer when it comes to tackling financial stress. These resources can offer valuable tools, information, and guidance without costing a penny. 

What can I do?

• Educational Websites: Explore reputable financial education websites that offer articles, guides, and tools to improve your money management skills. Websites like Salary Finance’s Learn platform provide free resources on various financial topics.
• Social Media Communities: Join social media groups or communities focused on personal finance. Platforms like Reddit, Facebook, and Twitter host communities where members share experiences, ask questions, and provide advice on money management.
• Financial Podcasts and YouTube Channels: Listen to financial podcasts or watch YouTube channels that offer insights into money management. Creators like, In for a Penny, Cash Chats, and Money Mum official provide accessible and practical advice. And podcasts like FT Money Clinic and  Which? Money provides useful and topical insights.

In wrapping up, remember this: managing financial stress is about taking small, practical steps that fit into your life. Whether it's creating a budget, seeking help from local resources, or just being mindful of your spending, every little bit helps. Your financial wellbeing is a journey, not a sprint, so be patient with yourself and you will get there!