Credit, Collections & Insolvency News
Debt advice specialists, PayPlan, have launched a new online resource to help people better manage their relationship and approach to money. The Financial Wellbeing Hub is free for everyone to use and sets out steps to improve your financial education and look after your personal wellbeing.
A person’s financial wellbeing is made up of their relationship with money and understanding of how it affects everyday life. Good financial wellbeing means you’re in control of managing money and understand how any changes will affect you. Bad financial wellbeing is dangerous and can lead to problems if left alone without help.
One in four people will experience a mental health problem and every year 100,000 people in England attempt suicide because of debt, which is why it has never been more important to highlight the links between mental health and debt, whilst offering advice.
Rachel Duffey, CEO of PayPlan, said of the new Financial Wellbeing hub “I am pleased to announce the launch of our Financial Wellbeing Hub – a free resource for clients struggling to keep up with their financial commitments and deal with the emotional effects of problem debt.”
“This is a new proposition that aims to support individuals before their debt problem reaches crisis point. We have received great feedback on its effectiveness already and look forward to working with employers and partners within the credit industry on supporting individuals with debt.”