What is Financial Hardship?
Financial hardship is something we may all experience at some point in our lives. If you are struggling to pay bills, make debt repayments or afford the essentials we may say you are in financial hardship. This could come about due to a number of reasons such as loss of employment, injury, illness or divorce. If you find yourself in financial hardship you are not alone. It is estimated that as of July 2022, 1/6 UK households are now in ‘serious financial difficulties’.
Severe Financial Hardship
If you are suffering severe financial hardship and you are struggling to feed yourself and/or your family, there is help available. You can visit the Trussell Trust which is a charity that provides assistance to people in genuine need. They have set up food banks all over the UK and you can use this link to find a food bank close to you. Visit www.trusselltrust.org to find out more and read our recent blog about using food banks here.
Financial hardship during the cost of living crisis
Due to the rising cost of living in the UK, more and more households are being pushed into financial hardship. With the energy price cap rising, fuel prices and grocery prices increasing, more households are being faced with debts. If you are struggling with the cost of living crisis and need help, support or want to find out more, visit our cost of living page here.
What help is available?
If you are struggling with your finances, there are a number of ways you can seek help.