Employees

What are the causes of employee financial pressure?

• Lack of financial education.
• Governments often look to reduce subsidies and state welfare and support mechanisms, leaving people to cope financially by themselves.
• Peer pressure and materialism
• Changes in economic circumstances such as lower than expected pay rise, illness or job loss.

What are the associated problems of money pressures?

• Relationship breakdown.
• Family upset and difficulties.
• Health problems.
• Loss of friends and social isolation.

What can you do to avoid these problems?

• Make sure you communicate well about money, particularly with your partner.
• Budget! (For an online budget calculator go to www.moneybasics.co.uk)
• Use credit wisely - make sure you understand the different types of credit. (Secured, unsecured, fixed-term and revolving.)
• Be disciplined in saving money regularly.

Work-related issue

• Make sure that you're budgeting, whatever your income situation - including if you have a fluctuating income. 
• Redundancy - make sure you understand the issues and what to do if you are made redundant. (see links below)

For more info...

For more general money saving tips go to
http://www.moneybasics.co.uk/budget-and-banking/budgeting/reducing-spending.html

For more information on redundancy
http://www.adviceguide.org.uk/index/life/employment/redundancy.htm or
http://www.worksmart.org.uk/rights/viewsubsection.php?sun=16

If you get into difficulties with money then talk to someone about it - Call for free advice from the Consumer Credit Counselling Service on 0800 138 1111