Camillus House’s Post

We’re borrowing more and saving less. And finding yourself in financial difficulty is a known suicide risk. The prolonged cost of living crisis has had a profound effect on our personal finances. In February, the Office for National Statistics reported that more than a fifth of adults in the UK have borrowed more money or used more credit to cover bills in the past year*. This is up by 17% from January 2022. Rising prices and high interest rates affect us all – but for some, the cost of living crisis may cost them much more. According to the Financial Capability Strategy for the UK, nearly nine million people are in serious debt, but only about a third reach out for, and receive help.** Problem debt, or a sudden life crisis that precipitates a loss of income, can make people more likely to see taking their own life as their only option. Suicide support organisations are clear that talking openly about money difficulties can save lives. Talking about managing your finances is about much more than money. As a financial adviser, I talk to my clients every day about the future they imagine for themselves. So the most important thing any of us can do, as friends, colleagues, family members or financial advisers is to make sure that everyone has a future. Check in with friends and family. Just a quiet call or chat may be helping someone more than you know. If you’re having suicidal thoughts, or your think someone you love is, you can call the Samaritans helpline free – day or night, 365 days a year – on 116 123, or email them. And the NHS is always there if you need help urgently. Find them here. Worried about someone? CALM's helpline and webchat are open daily 5pm - midnight. There are also some debt support charities and organisations that can help - MoneyHelper on 0800 011 37970 has information, and Stepchange for debt management. Sources: *Mental Health UK – accessed August 2023 **Financial Capability – August 2023 #SuicidePrevention #Debt

We’re borrowing more and saving less. And finding yourself in financial difficulty is a known suicide risk. The prolonged cost of living crisis has had a profound effect on our personal finances. In February, the Office for National Statistics reported that more than a fifth of adults in the UK have borrowed more money or used more credit to cover bills in the past year*. This is up by 17% from January 2022. Rising prices and high interest rates affect us all – but for some, the cost of living crisis may cost them much more. According to the Financial Capability Strategy for the UK, nearly nine million people are in serious debt, but only about a third reach out for, and receive help.** Problem debt, or a sudden life crisis that precipitates a loss of income, can make people more likely to see taking their own life as their only option. Suicide support organisations are clear that talking openly about money difficulties can save lives. Talking about managing your finances is about much more than money. As a financial adviser, I talk to my clients every day about the future they imagine for themselves. So the most important thing any of us can do, as friends, colleagues, family members or financial advisers is to make sure that everyone has a future. Check in with friends and family. Just a quiet call or chat may be helping someone more than you know. If you’re having suicidal thoughts, or your think someone you love is, you can call the Samaritans helpline free – day or night, 365 days a year – on 116 123, or email them. And the NHS is always there if you need help urgently. Find them here. Worried about someone? CALM's helpline and webchat are open daily 5pm - midnight. There are also some debt support charities and organisations that can help - MoneyHelper on 0800 011 37970 has information, and Stepchange for debt management. Sources: *Mental Health UK – accessed August 2023 **Financial Capability – August 2023 #SuicidePrevention #Debt

How to build and leave a legacy in a cost-of-living crisis For the 14th time this year, the Bank of England has hiked the base rate of interest in a bid to tackle high inflation. The latest rise in August took the base rate from 5% to 5.25%, the highest it has been since the financial crash in 2008. While there is no doubt that increasing costs are affecting many people across the UK, black people and people from other minority ethnic groups continue to be disproportionately affected by these economic changes. Click here to read more -> https://bit.ly/3LJvd8b -> First Class Foundation UK, Sabrina Dennis -> #Charity #Legacy #CostOfLiving #CostOfLivingCrisis #UKNewsGroup #WestMidlands

How to build and leave a legacy in a cost-of-living crisis For the 14th time this year, the Bank of England has hiked the base rate of interest in a bid to tackle high inflation. The latest rise in August took the base rate from 5% to 5.25%, the highest it has been since the financial crash in 2008. While there is no doubt that increasing costs are affecting many people across the UK, black people and people from other minority ethnic groups continue to be disproportionately affected by these economic changes. Click here to read more -> https://bit.ly/3LJvd8b -> First Class Foundation UK, Sabrina Dennis -> #Charity #Legacy #CostOfLiving #CostOfLivingCrisis #UKNewsGroup #WestMidlands

Financial Strain or Lifestyle downgrade ? A Victorian mother's claim that $140,000 is insufficient for her family of three has sparked debate. Finance commentator Sarah Wells provides insight, noting the importance of examining where your money goes, and clarity between needs and lifestyle. Many families experienced lifestyle upgrades during the pandemic due to historically low interest rates and record stimulus packages. Now, with rising living costs, the disparity in perceived financial sufficiency is more pronounced than ever before. Wells suggests that families need to reevaluate their current definition of needs and wants. Basic needs include housing, utilities, food, medical care, minimal clothing, and transportation. Anything beyond these can be considered a want in varying priorities. For those struggling, she recommends evaluating surplus assets, considering downsizing, and those in real hardship seeking assistance from non-profits to ensure their needs are supported. Ultimately, while some families manage on much less, others with higher incomes still feel financial pressure due to current lifestyle expectations. #FinancialAdvice #CostOfLiving #Budgeting #LifestyleChanges #EconomicStrain

I am awake, I am alive, and this morning I am thinking of … privilege. I live in a beautiful home now, but I have done my time in homes without running water, in low-rent housing, in shelters for abused women, on friend’s couches, and the like. As a result, when I plan my seminars or write my words, I think of those who do not have the luxuries I take for granted now. I choose universal concepts and themes over ones that only make sense in condos and subdivisions, ensuring I do not marginalize the challenged even more while trying to help. And it’s not hard. After all, I still remember hiding from landlords, borrowing money for food, and dodging the phone so as to avoid talking to bill collectors. I think of those times when I share my joy. I am not bragging in those moments. Rather I am attempting to illustrate to those at risk of losing hope that life after poverty IS possible. I pray that my words highlight that poverty is only a measure of your financial worth and not your value as a human being. And at the same time, I work really hard to make sure the affluent people I interact with understand that too. After all, I may have more money now. I am not more valuable. As I work, I reflect on my own days of fear – when confrontation was to be avoided at all costs, when speaking up for myself was something I was just not capable of doing. And how others who knew spoke for me when I couldn’t and how I now must do same. So today my friend, especially if you are hurting, grieving, struggling, or wondering if this is EVER going to get easier, know I am thinking of you and praying really hard for you. I believe in you. Please know, the storm WILL end. And for those racialized, marginalized, and Indigenous friends and followers who are reading these words, know that I am thinking of you because today, like most days, it is my time to speak, not for me but until you can, just like all those before me who spoke eloquently and thoughtfully, until I found my way to the microphone. Like this blog? There’s over 400 entries just like this waiting in the membership for you and so much more! Check it out at: https://sandiboucher.com/ #yougotthis #truth #debwewin #ibelieveinyou #icreatesafespace #indigenouscanada #reconciliation #canada #change #selfdetermination #healing #strength #tradition #teachings #resilience #resistance #growth #success #empowerment #confidence #selfworth #selfesteem #throughindigenouseyes #indigenousperspective

We’re borrowing more and saving less. And finding yourself in financial difficulty is a known suicide risk. The prolonged cost of living crisis has had a profound effect on our personal finances. In February, the Office for National Statistics reported that more than a fifth of adults in the UK have borrowed more money or used more credit to cover bills in the past year*. This is up by 17% from January 2022. Rising prices and high interest rates affect us all – but for some, the cost of living crisis may cost them much more. According to the Financial Capability Strategy for the UK, nearly nine million people are in serious debt, but only about a third reach out for, and receive help.** Problem debt, or a sudden life crisis that precipitates a loss of income, can make people more likely to see taking their own life as their only option. Suicide support organisations are clear that talking openly about money difficulties can save lives. Talking about managing your finances is about much more than money. As a financial adviser, I talk to my clients every day about the future they imagine for themselves. So the most important thing any of us can do, as friends, colleagues, family members or financial advisers is to make sure that everyone has a future. Check in with friends and family. Just a quiet call or chat may be helping someone more than you know. If you’re having suicidal thoughts, or your think someone you love is, you can call the Samaritans helpline free – day or night, 365 days a year – on 116 123, or email them. And the NHS is always there if you need help urgently. Find them here. Worried about someone? CALM's helpline and webchat are open daily 5pm - midnight. There are also some debt support charities and organisations that can help - MoneyHelper on 0800 011 37970 has information, and Stepchange for debt management. Sources: *Mental Health UK – accessed August 2023 **Financial Capability – August 2023 #SuicidePrevention #Debt

We’re borrowing more and saving less. And finding yourself in financial difficulty is a known suicide risk. The prolonged cost of living crisis has had a profound effect on our personal finances. In February, the Office for National Statistics reported that more than a fifth of adults in the UK have borrowed more money or used more credit to cover bills in the past year*. This is up by 17% from January 2022. Rising prices and high interest rates affect us all – but for some, the cost of living crisis may cost them much more. According to the Financial Capability Strategy for the UK, nearly nine million people are in serious debt, but only about a third reach out for, and receive help.** Problem debt, or a sudden life crisis that precipitates a loss of income, can make people more likely to see taking their own life as their only option. Suicide support organisations are clear that talking openly about money difficulties can save lives. Talking about managing your finances is about much more than money. As a financial adviser, I talk to my clients every day about the future they imagine for themselves. So the most important thing any of us can do, as friends, colleagues, family members or financial advisers is to make sure that everyone has a future. Check in with friends and family. Just a quiet call or chat may be helping someone more than you know. If you’re having suicidal thoughts, or your think someone you love is, you can call the Samaritans helpline free – day or night, 365 days a year – on 116 123, or email them. And the NHS is always there if you need help urgently. Find them here. Worried about someone? CALM's helpline and webchat are open daily 5pm - midnight. There are also some debt support charities and organisations that can help - MoneyHelper on 0800 011 37970 has information, and Stepchange for debt management. Sources: *Mental Health UK – accessed August 2023 **Financial Capability – August 2023 #SuicidePrevention #Debt