Debt and your wellbeing

06 March 2019

There are several reasons why people fall into debt, and it can happen to anyone, from being made redundant to a break down in a relationship or simply not enough income to cover every day bills.  

A range of studies have been carried out looking at the relationship between money problems and mental health. Statistics by the Royal College of Psychiatrists show that one in two adults with debt have a mental health problem and one in four people with mental health problems are also in debt.

Miss R, a LiveWest customer was referred to the tenancy sustainment team after accumulating £12,000 worth of debt. Miss R made some poor choices in her past relationships which caused her to become very withdrawn and she fell into debt. She lost her confidence and passed the time by watching TV, as she was too embarrassed to meet friends and family. Miss R felt extremely isolated and her weight increased since having her son.  

After working with us to deal with her debt, she started to feel more confident and enrolled at a local college. Over the course of a year she has completed multiple qualifications and has now been offered a job at a nearby school.

As her confidence blossomed, she started attending fitness classes and going on big walks where she met her boyfriend. She has now lost a staggering 7 stone.

Miss R regularly attends courses on how to manager her money and sticks to her budget.

Gia Hancock, Tenancy Sustainment Manager said: “The Tenancy Sustainment Team was set up in November 2011 to help support our most vulnerable residents to manage their tenancies. Over the past 7 years Tenancy Sustainment has changed significantly to not only support business outcomes but also the ever changing needs of our residents and the communities they live in.

Our aim is to not only to support our residents with activities such as money management or housing issues but to also look at reducing social isolation and loneliness, helping them to be more independent, building confidence and supporting the development of new opportunities for those who wish to be involved within their communities. Through this process we are also able to help raise the aspirations, confidence and resilience of our residents. We have found that reducing social isolation also has wider benefits. The pull on other internal departments and reliance on external specialist services can also be reduced with the improvement in the general feeling of health & wellbeing of the resident.”

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