Employees
If you're worried about losing then read our Redundancy Moneymanual for more detailed info.
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 issues
- 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. (Read the Redundancy Moneymanual or see links below)
For more info...
For more general money saving tips go to
moneybasics.co.uk - Tips to reduce spending
For more information on redundancy
Citizens Advice Bureau - Redundancy & Employment
Work Smart (from the TUC) - Redundancy
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
