Helping people find a way out of money troubles – new first aid kit launches

A new Money First Aid Kit has just gone live that will act as a one-stop shop for resources, tools, advice and links to support anyone helping individuals and families with money problems.

Allchurches Trust provided a £50,000 grant for the development of the Just Finance Information Hub, which includes the new online ‘Money First Aid Kit’ – an invaluable tool to help the 5 out of 6 people with problem debt who don’t seek help.

One of the greatest anxieties for adults facing debt and money problems is not talking about them. High cost loans and the constant tide of demands on an individual’s money means a small money problem can rapidly become a big one if they don’t seek help.

It is common that people grapple with money problems for months or even years before they ask for outside help. Research has shown that advice services are often approached only as a last resort.

The Money First Aid Kit is hosted on the Just Finance Foundation website and a £5 note-sized flyer has been produced as a handy signposting tool to the online resource that people can keep in their wallet. It will be especially useful for community workers, volunteers and case workers.

James Laing, Director of Grants and Relationships at Allchurches Trust, said: “At the heart of Allchurches Trust’s grant-giving is a desire to help those most in need. We were keen to support the development of the Money First Aid Kit as it is a useful tool for signposting people experiencing money problems to information and support that could enable them to find their way out of tough times.

“This is the sort of initiative that could make a real difference to people’s lives as it will give community workers, church and charity volunteers and case workers the information they need to confidently tackle talking about money at an early stage, before problems become insurmountable.”

The site also has tips for talking about money that include:

  • the importance of listening, leaving space for people explain their situation and how it is making them feel
  • being positive so that talking about their situation is the first step to getting the help and support they need
  • and to remember you don’t have to solve their problem, your role is to listen and support

Paul Hackwood, Director of Just Finance Foundation, said: “The online Money First Aid Kit was developed for those who might want to help but don’t necessarily know where to direct friends or those they meet in the course of their work to find assistance. The Just Finance Foundation works to help making talking about money a norm. We are training concerned individuals to spot problems early and introduce alternatives.”