"Freedom week" or financial crisis?

This week may have been dubbed “freedom week” by some, however, we know that for many people the reality is far different. The relaxing of Covid restrictions will bring increased financial uncertainty for many as a number of the Covid support schemes are due to end.

With Covid cases still on the rise and increasing numbers of people having to self-isolate it seems that for many employer’s life is far from back to normal. This in turn will cause many employees to feel concerned about the security of their jobs.

If you’re feeling anxious about what will happen to your finances over the next few weeks or months, the time to act is now! Creating a budget using IE Hub will allow you to see exactly what money you have coming in, and where it all goes. This means you can see how long you could continue to afford the things you currently do if your circumstances were to change, and it may even allow you to identify areas where you could make savings. If your circumstances do change you can simply log back into your account and amend your budget to reflect these changes. People experiencing money troubles frequently report feeling overwhelmed and not knowing where to start, so this is a great way to take the first step before things spiral out of control.

If they are aware of your situation many creditors will work with you to find a solution- this may be a payment holiday or some other temporary arrangement. Once you have completed your budget with IE Hub you can easily share this with any of the companies that you are dealing with, either by selecting the companies from our share list or by using our free post service. To start your free budget today click here.

Many people find it hard to talk to their loved ones about money worries, but doing so may help you to feel less isolated. For tips on how to discuss money with your friends and family please see here. If you feel unable to talk to a friend or family member, or if you feel that your debts are unmanageable or are impacting your mental wellbeing then we suggest you seek free, impartial debt advice and contact StepChange Debt Charity on 0800 138 1111.