Talk Money Week – 18 - 22 November

Mon 18 Nov 2019

talk money week
Money and debt is often seen as a taboo subject but Talk Money Week is here to break the stigma.

According to the recent Police Federation Pay & Morale survey* around one in eight officers are seeking financial support to cover living costs. Talk money week is an ideal time to review your finances and improve your financial wellbeing.

Worrying about money can negatively affect your mental health and for those people experiencing mental health problems it makes it harder to manage their finances.  Problem debt can also be linked to suicide.

According to Money and Mental Health Policy Institute over 420,000 people in problem debt consider taking their own life in England every year, while more than 100,000 people in debt actually attempt suicide annually.**

It’s important to start talking about money worries before your situation gets worse.  Talking about money will give you the confidence to get help and find out who can best advise you on any problems.  It can give you a great sense of relief to share your problems, so you’re not facing them alone.  If you don’t feel ready to talk to someone, write done what you are going through and share it with somebody you can trust.  It’s important to seek professional advice as soon as possible and not wait until it’s more difficult to find a solution.

Police Mutual are here to help. We want to break down the stigma surrounding debt and get people talking about money.

We’ve teamed up with PayPlan, one of the UK’s leading free debt advice providers, who offer free and confidential advice to anyone in serious financial difficulties.***

They’re able to advise you on a range of debt solutions suited to your individual circumstances, helping to protect you and your family with a sustainable way to manage your debt.

Get free and confidential help to combat your debt, call PayPlan on 0800 197 8433.  If you don’t want to talk on the phone, it is also possible to email them.

Below are some tips on how to improve your financial wellbeing

  • Use our budget calculator here to help you manage your money. Set yourself a daily spend limit based on how much disposable cash you have each month
  • Set up a separate bill account and transfer an amount each month to cover the cost of all your household bills
  • Set yourself saving goals, saving little and often, take a look at our Regular Savings Plan, use the link here for more details
  • Check your bank balance each week so there are no nasty surprises. Consider using an app so you can see all your accounts in one place
  • Switch your current account – banks will often pay you to switch accounts use the link here for more information
  • Look at your general insurance, using the link here for Police Mutual car insurance and here for Police Mutual home insurance
  • Check your utility bills, for more information use the link here
  • Review your mortgage – for more information on the Police Mutual mortgage advice service click here
  • Check your credit score using one of the various companies available online including, Experian, Equifax or CallCredit


Police Mutual Services

Police Mutual offer a range of wellbeing support services, for more details check out the For You pages on our website at www.policemutual.co.uk

The Care Line Service provided by Health Assured can offer advice and information at the end of a phone, helping with a range of concerns including emotional support.  To talk to someone please call 0800 028 1708 or take a look at the e-portal:

Health & Wellbeing e-portal
https://healthassuredeap.co.uk/
Username: policemutual
Password: careline

 

The (not so) small print
* Police Federation’s annual Pay & Morale survey results published in November 2019

** Money and Health Policy Institute report ‘a silent killer’ Published December 2018

*** PayPlan is a trading name of Totemic Limited. Totemic Limited is a limited company registered in England, Company Number: 2789854. Registered Office: Kempton House, Dysart Road, PO Box 9562, Grantham, NG31 0EA. Totemic Limited is authorised and regulated by the Financial Conduct Authority. Financial Conduct Authority Number: 681263.


Police Mutual is a trading name of Police Mutual Assurance Society Limited (PMAS), PMGI Limited (PMGI) and Mortgage Excellence Plc (MEX).  PMAS is an incorporated friendly society authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. PMGI and MEX are authorised and regulated by the Financial Conduct Authority. All Police Mutual companies are registered in England and Wales.  PMGI, register no. 1073408; MEX, register no. 03527577. Registered office: Alexandra House, Queen Street, Lichfield, Staffordshire, WS13 6QS.


Type of article: Articles
Category: Wellbeing

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