Financial wellbeing

Financial difficulties are one of the main factors that can affect our mental wellbeing, yet many people don’t like to talk about it.

Covid-19 has impacted all of us in many different ways, but for some people, the pandemic has both created and exacerbated new or existing financial worries.

If you are feeling worried about money, you are not alone. Personal finances are a key concern for many of us.

• Half of us worry about our finances and just 58 per cent of people are confident about handling unplanned spending of up to £500.
• Two thirds of UK workers are 'balancing' financially, dealing with the 'now' rather than saving for the future.
• Only 40 per cent of people have a month's savings to tide them over.

Worrying about money can leave you feeling stressed, low or anxious. It can affect self-esteem and your ability to sleep well, as well as lead to the breakdown of relationships with friends, colleagues or loved ones.

Help is available

• First Class Support (0345 266 5060) for confidential budgeting, debt and savings advice and self-service direct access to mental health support.
• Money management resources are available on our First Class Support website, www.rmgfirstclasssupport.co.uk. You can also access support via the ‘Lifeworks’ app by downloading it from iTunes or the Google Play store. New users are required to ‘sign up’ using a unique invitation code, which will be their payroll number and the RMG- prefix, for example RMG-12345678.
• The Feeling First Class portal has helpful financial wellbeing support. Visit www.feelingfirstclass.co.uk (code FFC1 to register) and download the app from iTunes or the Google Play store.
• Stepchange offer expert, tailored advice and practical solutions to problem debt. Contact the UK's leading debt charity on 0800 138 1111 or visit www.stepchange.org.
• Money Advice Service give free and impartial advice, including tackling problem debt and a number of tools and calculators to help manage your money better. Visit www.moneyadviceservice.org.uk (includes a live chat option) or call free on 0800 138 7777 (available five days a week).
• Citizens Advice provides free, confidential and independent advice to help overcome problems such as benefits, debt and money, family, housing, law and courts and health. Advice is available face to face, over the phone, by email and webchat – visit www.citizensadvice.org.uk, call the national helpline on 03444 111 444 or find your nearest Citizens Advice.

Help from our in-house charity, the Rowland Hill Fund is also available to colleagues past and present and their dependents, who need financial assistance and support. Call the helpline to talk through any issues confidentially (0345 600 4586). More information can be found on www.rowlandhillfund.org or via the Rowland Hill Fund Facebook Page or Twitter.

For urgent support in a crisis, call the Samaritans on 116 123 (open 24/7) or in the case of a suicide or other emergency situation, ring 999, or 9999 from a Royal Mail landline.