Together we stay stronger Financial wellbeing It may feel that what is going on in the world is out of your control, but you can put yourself in control of your finances, which for many people is or will be the main source of worry. A recent survey of 2,002 UK adults by Opinium Research in May, looked at the effects of COVID-19 and showed that: 25% are more stressed about money than usual 19% have lost sleep over money since the crisis began 16% say it is negatively affecting relationships with friends and family Worrying alone about money can have a negative impact on your mental health. You may feel that you are under pressure to provide for your family, your partner, paying the mortgage or rent. Talking to your partner, family, friends, work colleagues as well as helplines will give others the chance to understand the situation, offer help and reduce your worrying. There is a wide range of professional support services you can access and speak to someone.
Reach out for free and confidential help and advice Employee Assistance Programme (EAP) If you are worried about the impact on your financial wellbeing, don’t forget our Employee Assistance Programme with Unum Lifeworks. Their website offers guidance on any money concerns you may have (log in details - User ID: unum Password: lifeworks), or if you wish to talk to someone confidentially then please call 0800 048 2702.
Construction Industry Helpline (CIH) & App The CIH is managed and funded by the Lighthouse Construction Industry Charity. You can call the helpline 24/7 in confidence on 0345 605 1956. It is a charitable service funded by the industry, for the industry and provides:
Emergency financial aid to construction families in crisis Advice on occupational health and mental wellbeing Support on legal, tax and debt management matters The CIH also have an app with information, advice and guidance about how people can relieve the long term effects of stress, anxiety or depression as well as providing access to other areas of support such as anger management, drug and alcohol dependency, debt management, legal advice, and emergency financial aid. Key support areas include: Mental wellbeing – covering anxiety, depression, anger, suicidal thoughts, sleep and building resilience Physical wellbeing – covering aches and pains, nutrition, weight management, cancer, alcohol and drug addiction Financial wellbeing – covering budgeting, debt management, tax and legal advice, retirement planning and emergency financial aid Each section of the app offers learnings about a variety of conditions or issues, self-assessment tools, coping strategies and referral pathways to access expert advice and support. The app is free and simple to use and also accesses a major researched library of resources on a vast array of topics and brings them all together in one place. The ‘get help’ function is particularly useful as the built in geo-locator signposts users to support from both national help centres and local support services, specific to the subject being investigated. Visit their website for further information about the app.
Together we stay stronger B&CE Construction Worker Helpline The Construction Worker Helpline is a free, confidential service for construction workers and their ‘living in household’ dependents. Set up by B&CE’s Charitable Trust, it offers you support, advice and a guiding hand in times of need. Call in confidence on 0808 801 0372 (freephone 8am-8pm, 7 days a week). The B&CE Charitable Trust provides a range of awards, grants and financial support to individuals and organisations. In the past, the Trust has lightened the financial load for people in a number of ways. To find out more about their services, visit their website. Money Advice Service Provided by the Money and Pensions Service, which was established in 2019, the Money Advice Service supports people’s money management, helping tackle problem debt and improve people’s financial capability, the service offers various tools and calculators, plus free confidential advice. A debt adviser will: Treat everything you say in confidence Give advice about better ways of managing your money Never judge you or make you feel bad about your situation Suggest ways of dealing with debts that you might not know about Always be happy to talk to you, however small or big your problem is Check you have applied for all the benefits and entitlements available to you 8 out of 10 people who have used this service say they feel less stressed or anxious and more in control of their life again. Visit their website for further information or call 0800 138 7777 from Monday to Friday, 8am to 6pm.
Coping with an interruption in income In the current times many people may have a change to their household income. This can cause stress and hardship. Unum Lifeworks offer guidance, information and tips to help in times of financial worries. These include strategies to help you get through this time associated with lost income, such as: Adjusting your budget Cutting back on unnecessary spending If you are eligible for unemployment benefits Avoid going into credit card debt
You can find this guidance on the 'Money' section on Unum’s website. Log in with the following details (User ID: unum Password: lifeworks) and search 'coping with an interruption in income'.
Budget planning - quick tips and support resources Gather all the paperwork (payslips, bank statements, credit card bills, household bills) Add up your income Calculate essential spending (mortgage or rent, utility bills, food, travel) Review disposable income spending (going out, leisure, alcohol, cigarettes) Draw up a budget you can stick to Revisit your budget each month Remember that you may be saving money by not spending on things like transport and socialising. Factor that in when looking at your budget. The Money Advice Service has an online budget planner that may help you and there is also a wealth of budget planning information and resources on www.moneysavingexpert.com including a dedicated Coronavirus Finance & Bills Help guide.
Together we stay stronger Why not try the 1p Savings Challenge? Many people take part in the 1p Savings Challenge every year, and the idea's pretty straightforward. Each day you save what you saved the day before, plus a penny more. So you start by saving 1p, then 2p, then 3p a day – right the way up to £3.66 by the end of December. If you start on 1 January, then by the end of the year you'll have saved over £650 but you can of course start part way through the year. Download the free savings chart online.
Save on your weekly grocery shop Did you know you can access up to 7% savings through My Barratt Staff Shop on your weekly food shop at ASDA, Tesco, Sainsbury’s, Marks & Spencer, Waitrose and more. Visit My Barratt Staff shop and log in today. Plus with some retailers you can also purchase: Digital gift cards which allow you to access the discount immediately whilst you stand in the store Reloadable gift cards which you can top up as and when
Download the My Staff Shop App now. To use the app, all you need is the email address and password you registered your account with. Once you have signed in you can make the same purchases and continue to save money.
Online financial help, support and education Financial education provider, Close Brothers have released four short pre-recorded webinars with useful practical advice around financial wellbeing. Visit My Barratt Benefits Health & Wellbeing to access the sessions covering these topics: Money worries during the COVID-19 pandemic Using the COVID-19 lockdown to improve financial wellbeing Protecting your financial wellbeing
Health and benefits consultant Mercer, have provided "a guide to money in the time of coronavirus", which gives a clear explanation of things that you can do that may help you stay on top of your financial wellbeing. If you are worried about your financial wellbeing then this in turn can have a huge effect on your mental and physical wellbeing. Unum Lifeworks also offer a wide range of information, tools and resources on money management including budgeting, debt and savings. Visit their website and log in with the following details: User ID: unum Password: lifeworks and click on the ‘Money’ tab.
Mental health and money Poor financial wellbeing can lead to poor physical and mental wellbeing. The charity Mind has a money and mental health section on their website, which includes advice on how to manage debt. Mental Health & Money Advice offers information and advice for anyone struggling with money because of mental illness, or whose financial situation is affecting their mental health. Visit their website for further information.
Remember - it’s key that you seek assistance early when it comes to any financial concerns