Why it’s important to talk about your money worries and where you can ask for help

The rising cost of living is straining many of us, with 77% of adults saying it’s something they worry about.

Those most likely to report feelings of anxiety are those aged 30 to 49 (82%), with women slightly more affected than men (81% to 73%), according to the Office of National Statistics.

While this heightened preoccupation with money makes it more important than ever to talk about our personal finances, research suggests that people don’t always feel empowered to do so.

Rising cost of living and bigger bills mean you may be worried about your finances

In fact, 55% of Britons don’t feel comfortable discussing concerns about their financial situation, according to the Money & Pensions Service. Their survey found that the main reasons for suppressing money worries are shame, not wanting to burden others, and having been brought up to avoid talking about money.

With our ‘Beat the Big Squeeze’ series – presented in partnership with Halifax – we’ll bring you useful and practical advice on how to cope with the current strain on household finances.

In previous articles we have given an overview of the cost of living crisis and how it could affect you *INSERT LINK WHEN ARTICLE IS LIVE*, before looking in detail at the issue of increase in energy bills *INSERT LINK WHEN ARTICLE IS LIVE* .

Today we’re breaking down any taboos that may exist around discussing money, before revealing some of the places you can go for non-judgmental advice and practical support if you’re concerned about your situation. financial.

More articles in the series will be released in the coming weeks, so keep an eye out to make sure you never miss one.

Why it’s better to talk about your money problems

The rising cost of living and bigger bills mean you may be worried about your finances.

If so, you’re not alone, with three in 10 Mail Metro* readers saying they are currently struggling, and four in 10 expecting the situation to get worse over the next 12 months. .

There are many places you can turn to for non-judgmental advice and practical support if you are concerned about your financial situation.

There are many places you can turn to for non-judgmental advice and practical support if you are concerned about your financial situation.

While it can be tempting to put off discussing your money troubles altogether, talking about them with an expert or someone you trust, like a parent, can be extremely beneficial.

In fact, research shows that talking about money helps people make better financial decisions and feel less anxious and more in control.

Plus, acting now can help you prepare for the future and prevent things from getting worse later.

Where to look for help

If you’re worried or having difficulty with your finances, there are plenty of people you can talk to.

Citizens Advice is a fantastic resource for a wide range of money-related topics and offers practical, unbiased assistance online, in person or over the phone.

If you are in debt and need advice to get back on track, charities Stage change and National debt line provide help online or over the phone.

Money worries can sometimes affect your mental health. For free assistance, you can visit the Mental Health and Financial Advice Website for a list of organizations that could help you.

Talking about your money worries can help you reduce your anxiety and feel more in control

Talking about your money worries can help you reduce your anxiety and feel more in control

If you are concerned about your finances now or in the future, it is important to speak to your bank as soon as possible.

Halifax customers can receive free, candid advice over the phone or in-branch by booking a Helping Hand appointment with a bank advisor.

They will review your finances to discuss your concerns and provide non-judgmental support on the most appropriate ways to manage your money and budget.

They can also tell you about the practical help you could get and direct you to a range of free services from independent organizations and the government.

Halifax customers struggling with financial issues such as lingering debt can also visit the money worries section of their website for more information on the range of support available.

*Mail Metro Media is the advertising house of Daily Mail, MailOnline, The Mail on Sunday, Metro, Metro.co.uk, i journal, inews.co.uk and Telegraph print products.