A new service to assist people who have fallen behind on debt repayments because of the Covid-19 pandemic has been announced.
To support individuals struggling with their financial wellbeing, debt advice experts, PayPlan, has launched a new online hub to help people better manage their relationship and approach to money.
The Financial Wellbeing Hub is free to use and sets out steps to improve financial education and personal wellbeing. It gives advice on reducing spending, maximising income, financial goals and directions on where to find emotional support.
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, said: “We’re delighted to launch our new Financial Wellbeing hub which has been developed to help improve people’s relationship with money.
"Whether you need help with budgeting, ideas for saving money or accessing financial support, you’ll find loads of information and practical tools which can improve your situation.
“We’re aware that money worries can have a huge impact on both your physical and mental wellbeing.
"So, in collaboration with industry experts, we’ve put together lots of resources that will help with stress and mental health, coping with addictions and relationship issues.
"This is a completely free resource and we’d encourage everyone to have a look around to see if they could benefit from the help available."
