For Debt Awareness Week we are encouraging tenants to tackle their debts head on by seeking debt and budgeting advice from our Financial Inclusion Officer.
Addressing debt is crucial because it can have a huge impact on your life. It can cause mental health problems such as stress and anxiety. Many people struggle with managing their debt, especially when unexpected expenses come up. It’s tough to balance paying off debt with everyday expenses, and it can feel like a never-ending cycle. Bringing awareness to these struggles is so important to help people understand that they’re not alone and that there are ways to overcome these challenges, no matter how big or small your debt is.
Some common mistakes people make when dealing with debt include ignoring it and hoping it will go away, only making minimum payments, taking on more debt to pay off existing debt, and not having a budget in place. It’s tough, but being aware of these mistakes can help you make better financial decisions.
Seeking debt advice can be very helpful in understanding your options and creating a plan to manage your debts. There are professionals who can provide guidance and support tailored to your specific situation. It’s a positive step towards taking control of your finances.
There are a few ways that you can deal with your debt:
- Face up to it
- Write your debts down
- create a budget
- Reconsider your options
- Contact your creditors
- Prioritise your priority debts
- Explore your debt options
- Don’t take on any more debt
If you would like any advice or assistance in relation debts or budgets, please contact one of CHA’s Financial Inclusion Team by using the contact details listed below.
FINANCIAL INCLUSION OFFICERS
Our Financial Inclusion Officers are here to provide support to our tenants on a wide range of financial issues
