By Gary Dewin, People Director, Pensions, Reward, Wellbeing and Employee Relations
This week is Talk Money week, the UK wide campaign all about getting people to talk more about money and pensions and highlighting the support that’s available.
We all worry about money sometimes, especially in the run up to the expensive festive season, and research from the Money and Pensions Service tells us:
- Over half of UK adults prefer not to talk to their family and friends about financial issues so as not to worry them
- 11.5 million adults have less than £100 in savings
- Nine million adults often use a credit card, overdraft or borrow money to buy food or pay bills because they’ve run short of money
The wellbeing of our colleagues is really important to us. Talk Money week gives us the perfect opportunity to remind colleagues about the range of financial support that’s available to you and also introduce our new partner, StepChange.
In the UK, one in six adults has problem debt, that’s why we’ve partnered with StepChange, the UK’s leading independent debt charity, to provide support to any colleagues who need it. Through their telephone and on-line debt advice service they’ll discuss your finances, work out your budget and create a personal action plan just for you, giving detailed and practical advice.
If you’d like to do a quick check of your finances to see how you’re doing with money you can take their 60 second debt test. *
We’ve developed some Chatmaps to help you start some conversations about money with family and friends, at home or at work. Talking money is still very taboo. We want to break this down and encourage open conversations – the help and advice that you give or receive could ultimately be life changing. Take inspiration from these colleagues who’ve been talking to us about the financial difficulties that they’ve faced.
If money worries are affecting your mental health don’t forget the help and support that’s available through Lifeworks. Lifeworks offers:
- wellbeing programmes to help you with anxiety, stress and depression
- advice, articles and resources for worries about family, health, life, money and work
- easy access for you and your family to our Employee Assistance Programme (EAP), which is a 24/7 confidential freephone line, there to support you with anything you need
They also have loads of offers, discounts and perks available that help you save and stretch your money a bit further, including:
- huge discounts on cinema tickets from Odeon, Vue, Cineworld and more
- cashback on hundreds of online and high-street brands
- discounts on giftcards and exclusive offers on products and services
Download the free Lifeworks app and you’ll have the help and benefits at your fingertips.
*We’re working on making the StepChange site available across the Co-op network, but for now you may need to use your own device to view it.