At various life stages, people may find themselves stretched financially, whether it be through loss of income, an increase in expenses, or both.
Some examples of life stages which can impact significantly on your financial situation include:
Unexpected life events may also have a serious impact on your financial circumstances.
Examples of unexpected life events could be:
If you find that you are losing control of your finances for any reason, it is important to seek help, and to do so early.
Failure to deal with problems with debt can have emotional consequences such as fear, guilt, loneliness, shame and anger. This in turn can lead to serious adverse effects including relationship breakdown, family stress, health problems or loss of support network.
There are also further serious financial consequences if you do not take steps to try and deal with debt problems. These potentially include:
If you are worried about debt you can speak to a Consumer Credit Counselling Service counsellor on 0800 1381111 or try the CCCS Debt Remedy for free debt advice to suit your individual circumstances.
Take a look at the FSA's Financial Health Check and find out tips for a healthier financial lifestyle - now and in the future.
Try the FSA's Debt Test to help you to find out if you have - or are likely to have - problems with your borrowing.
In debt and need help?
Call a CCCS counsellor at 0800 138 1111