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 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. (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
