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Author: Amy Edwards

The five barriers to seeking debt advice

Debt happens.

When you think about it, it’s a common part of life for many people. Millions of people have mortgages, car finance, credit cards and loans. When it’s well planned, used appropriately, and paid back on time, it can be beneficial.

But there’s a difference between debt and problem debt.

Debt becomes a problem when you can no longer keep up with your repayments, when it becomes unmanageable, or when you find you’re having to take out more debt to pay your existing debts.

It’s an easy spiral to get stuck in, and around 50% of people will wait over a year before seeking debt advice, by which point their situation could have escalated.

For Debt Awareness Week 2024, StepChange is focusing on the most common barriers to seeking debt advice, and how to tackle them.

Barrier 1 – Not understanding what debt advice is

One of the most common things StepChange hear from the people they work with is they didn’t understand that debt advice can actually help them deal with their debts. This is common amongst people who aren’t used to having money worries, and the best way to tackle this is to talk.

If you’d like to find out more about StepChange, the work they do, and how they might be able to help you, just get in touch. Simply email studentservices@chester.ac.uk with the subject heading ‘StepChange’ and we’ll be in touch to arrange a call with you.

Barrier 2 – Mental health and other vulnerabilities

More than half of the people StepChange work with have an additional vulnerability as well as their financial vulnerability.

Financial difficulty can take a toll on your financial and physical wellbeing. Money worries and mental health are connected, and it can make it even more difficult for you to feel able to reach out for support.

StepChange have a number of ways you can get advice, and you don’t have to speak with someone over the phone if you don’t want to. Getting online advice means you can take things at your own pace, and they also have specially trained advisors on hand if you need them.

If you’d like to access university wellbeing support, head over to the Wellbeing and Mental Health Portal page for more information, or contact our Student Services Helpdesk at studentservices@chester.ac.uk. You can also call on 01244 511550.

Barrier 3 – Impact on credit score and access to credit

Many people in financial difficulty worry about the impact debt will have on their wider finances. Two of the most common fears are:

1) Companies may stop lending you the money you need just to get by, and
2) Getting debt advice will affect your credit score.

This is a common misconception, but getting debt advice involves no credit checks and has no impact on your credit score. And if StepChange recommend a debt solution that could affect your credit score, they’ll always explain that clearly.

Barrier 4 – Not having the time to get help

Finding the time to get support can be difficult, and dealing with money worries can be particularly overwhelming and intimidating.

StepChange have a range of tools which make it easy for you to get help at a pace that suits you.

Their 60 second debt test can help point you towards the support that is right for you.

And their debt advice is available online 24/7. You can pause and restart whenever you like. Getting help is easier than you might think, so if you’re struggling with debt, give it a go.

Barrier 5 – Shame and stigma

Feelings of shame are very common among people with problem debt. Many try to solve the problem on their own and don’t feel able to ask for help.

50% of people wait over a year before seeking help, but when they do, 92% of those people wish they’d got help sooner.

One of the big messages we want to spread this week is that debt can happen to anyone. It’s nothing to be ashamed of and asking for help earlier can make all the difference.

Debt happens. Let’s deal with it.

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Debt Awareness Week: Virtual drop-in

Start Date: 22 March 2024 3:00 pm

End Date: 22 March 2024 4:30 pm

Location: Online

Book Now

This Debt Awareness Week, join our Student Money Adviser Carl for this virtual drop-in event.

We want to encourage our students to talk about debt, and this is the perfect opportunity to get some one-to-one support if you’re worried, or just not sure where to turn.

We’ve worked with StepChange to create a referral portal to make the process of seeking debt advice easier for our students, so if you’ve got money worries and you’re not sure where to start, drop in and let us know what’s going on.

He can let you know who StepChange are, tell you about the work they do, explain the debt advice process to you, and refer you to them if you feel it’s something you’d like to do.

He can also suggest other support within the university which you might benefit from.

Here’s some quick instructions on how to get involved:

  • We would never expect you to talk about your finances in front of others, so we’re operating a lobby system so you can be sure you’ll be receiving one-to-one support.

  • When you join the call, you’ll join the lobby, and when it’s your turn you’ll be admitted.

  • Once you’re in, let us know what’s going on and we’ll offer you guidance on steps you can take to improve your situation.

  • Finances can be complex, and we expect this event to be busy, so if your query or situation needs a bit more exploration, we might ask you to book a longer appointment on another day so we can make sure you’re receiving the support you need.
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Debt Awareness Week: Virtual drop-in

Start Date: 19 March 2024 3:30 pm

End Date: 19 March 2024 5:30 pm

Location: Online

Book Now

This Debt Awareness Week, join our Student Money Adviser Carl for this virtual drop-in event.

We want to encourage our students to talk about debt, and this is the perfect opportunity to get some one-to-one support if you’re worried, or just not sure where to turn.

We’ve worked with StepChange to create a referral portal to make the process of seeking debt advice easier for our students, so if you’ve got money worries and you’re not sure where to start, drop in and let us know what’s going on.

He can let you know who StepChange are, tell you about the work they do, explain the debt advice process to you, and refer you to them if you feel it’s something you’d like to do.

He can also suggest other support within the university which you might benefit from.

Here’s some quick instructions on how to get involved:

  • We would never expect you to talk about your finances in front of others, so we’re operating a lobby system so you can be sure you’ll be receiving one-to-one support.

  • When you join the call, you’ll join the lobby, and when it’s your turn you’ll be admitted.

  • Once you’re in, let us know what’s going on and we’ll offer you guidance on steps you can take to improve your situation.

  • Finances can be complex, and we expect this event to be busy, so if your query or situation needs a bit more exploration, we might ask you to book a longer appointment on another day so we can make sure you’re receiving the support you need.
Read More
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Health and Wellbeing RKEI public talk: The secret lives of sports people

Start Date: 23 July 2024 6:00 pm

End Date: 23 July 2024 7:30 pm

Location: Garrett Bar, Storyhouse, CH12AR

Join us for the latest talk in the Health and Wellbeing Research Knowledge and Exchange Institute’s (RKEI) “Cafe Scientifique/Humanitaire” public talk series which will be presented by Professor Daniel Bloyce.

Synopsis: Professor Bloyce uses extensive research data from interviews with male professional footballers, golfers and rugby league players to examine what life is really like in their worlds. In doing so, he will show that the pampered, glamorous lives that the media, and many sports fans, perceive pro-sportspeople to have is frequently far from the truth, with concerns about money, identity and family often at the fore.

This event is open to all and there’s no need to book.

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PGCE Open Evening

Start Date: 12 March 2024 5:00 pm

End Date: 12 March 2024 7:00 pm

Location: Wheeler

Considering a career in teaching? 

Join us for our PGCE Open Evening to find out more about our courses, meet our staff and check out our facilities.

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Your behaviour in the local community  

Whether you live in UoC accommodation, live at home, or live in private accommodation, having good relationships with your neighbours can make a big difference to your university experience. 

Check out our Dos and Don’ts for your time at the University:  

DO:  

Say hello and strike up conversation with your neighbours. Most will be happy to chat and will appreciate you taking the time to reach out. 

Remember not everyone will be on your schedule. Some of your neighbours will have families and full-time jobs so might not appreciate a karaoke session in your house at 3am.  

Get involved. Neighbourhoods like the Garden Quarter hold regular events like community meetings and street parties – why not get involved and build some connections?  

Treat your neighbours with respect. Remember, you’re representing the University, so we ask you to please treat your neighbours with compassion and courtesy.  

DON’T:  

Be afraid to ask. If you want to have a party, have a conversation with your neighbours about it, agree a time for the party to finish – and stick to it! 

Disrespect your neighbourhood. You may only be living in your student house for a year, but your neighbours probably have mortgages and live there full-time. Simple things like remembering to put your bins in and out, entering your house quietly after a night out – and respecting boundary lines can make all the difference.  

Think your behaviour will go unnoticed. The University has close links to our local communities and residents can report inappropriate student behaviour to the Proctor’s Office. This behaviour will then be investigated and could lead to disciplinary procedures if appropriate. 

Posted in News/FeaturesTagged

National No Smoking Day – Smoking Cessation Event

Start Date: 13 March 2024 11:00 am

End Date: 13 March 2024 1:00 pm

Location: Binks Foyer, Exton Park

Breathe easier and celebrate a smoke-free life. National No Smoking Day is an annual health awareness day in the UK, aiming to inspire and support smokers to quit for good. For those considering breaking free from the hold of tobacco, this day presents the perfect opportunity to take that crucial step.

Brio Leisure will be on site to give free advice and help you break the habit.

The event is open to all staff and students.

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Financial wellbeing: How to talk about money

How would you feel if someone started talking to you about money? Awkward? Nervous? Like you want to change the subject?

The truth is, you’re not alone. A recent survey carried out by the Money and Pensions Service found 55% of adults in the UK feel uncomfortable opening up about their finances. 33% of UK adults feel too uncomfortable to talk about money at all, even with loved ones.

But research shows that people who talk about money feel less stressed and anxious about their finances, and they feel more in control. They also make better financial decisions and have stronger personal relationships.

Let’s look at five positive impacts talking about money can have.

Financial Empowerment:

Do you know a person who is great at saving money? Ask them how they do it.

By discussing money openly, you can gain a better understanding of budgeting, saving, and managing debt. This knowledge will empower you to make informed decisions about your financial future, and lead to better financial independence and security.

Breaking the Stigma:

By starting conversations about money, you can break down barriers and create a culture of openness and support. Normalising discussions about money helps to remove the stigma associated with financial struggles and encourages people to seek help when needed.

It doesn’t need to be a deep conversation about your finances; it could just be about whether own branded Jaffa cakes are better than the branded ones (spoiler – they are!), or just a passing comment about how you’re struggling with rising costs. Any conversation about money is valuable, so start one and see where it leads.

Building Support Networks:

Money matters can be complex and overwhelming, especially when you’re tackling university life for the first time. By talking about and sharing your financial challenges and successes, you can learn from each other’s experiences and provide valuable support and advice. It can be comforting to know you’re not alone, and you can work together to figure out some potential solutions.

Setting Goals and Priorities:

Research shows you’re more likely to achieve your financial goals if you tell someone about them. Whether it’s saving for a post-graduation trip, paying off your overdraft, or even just buying those headphones you’ve wanted for a while, vocalising these goals makes them feel more achievable.

Cultivating Financial Wellness:

Just as physical and mental health are essential components of your overall well-being, so too is financial wellness. By talking about money, you can proactively deal with financial stressors and develop healthy financial habits.

So whether it’s discussing the price of beans, ways to budget more effectively, or how to save money in other areas of life, talking about money isn’t something to be feared or avoided.

Talking about money can bring a huge amount of benefit to both you and your friends, so today, try to start a conversation about money and help remove the stigma.

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Five ways to boost your financial fitness

Financial fitness is about feeling comfortable and in control of your financial position. It means having the knowledge and confidence to make the most of your money – both every day and in the future.

It’s easier said than done, and we know things are tough right now, but here are five ways you can improve your financial fitness.

Plan your spending

Just like a balanced diet can positively impact your physical health, a budget can spark an improvement in your financial health. It helps you take control of your money, and lets you know if you need to do a bit more to make things balance, like getting a job or considering slightly cheaper accommodation for the next academic year.

A budget should include all your income, and all your regular spending, like your rent, gym membership, and subscriptions.

Use an online budget calculator, such as this one from Money Helper, or just grab a piece of paper and a calculator and follow the instructions on our Portal page. It doesn’t take long, and the results will give you invaluable knowledge of where you are, and what you need to do next.

Keep track of your spending

Creating a budget is relatively easy but sticking to one can be more difficult, so monitoring your spending is important. Most banking apps have budgeting tools which automatically categorise your spending and tell you how much you’ve spent at specific retailers.

The most important thing here is knowing where your money is going. When you’re worried about your finances, it’s easy to ignore your spending, so make sure you get in to the habit of checking your bank statements regularly.

Being aware of what’s coming in and going out of your account means you can pick up on overspending and deal with it before it becomes a bigger problem.

Avoid borrowing

Many people borrow money so they can afford larger purchases like houses and cars, so borrowing money isn’t always a bad thing.

When it’s planned well, used appropriately, and paid off on time, it can be beneficial. However, it can also quickly spiral if not managed correctly, or your circumstances change suddenly.

Credit cards and Buy Now Pay Later and popular options for student borrowing, but remember. when you use these payment methods, you’re committing to paying for those purchases over a long period of time, so if something changes, you might struggle to make your repayments.

Buy Now Pay Later encourages you to overspend or buy things you might not be able to afford. A £240 tablet doesn’t seem as expensive when you only have to pay £80 per month.

Think carefully before buying anything in this way. It’s usually better to save a little more and buy it a bit later on when you can pay in full.

Don’t get caught up in discounts

As a student, you can find a discount on pretty much everything, so you need to be careful not to get in to a mindset of buying things just because you get a discount.

Try to think of it in terms of how much you’re paying, rather than how much you’re saving. If an item you want to buy is £40 with 20% off, you’re saving £8 but you still have to pay £32.

One of the best ways to not be tempted by discounts is to unsubscribe from email lists. On a daily basis, we get bombarded by emails trying to get us to spend money, so hit that unsubscribe link at the bottom of those emails and take back control.

Plan for the future

We never know what the future holds. Your car could break down, your rent could go up for the next academic year, or you could have to pay a deposit you weren’t expecting.

Whatever the circumstance, it’s a good idea to try to build an emergency fund, however small. Saving just £5 a week means you’d have £260 at the end of your first year. Even having a small amount saved can have a big impact if something changes or something unexpected crops up.

So there you have it; five ways to boost your financial fitness. These are a great starting point, but there’s so many more ways to put the focus on your financial health.

Head over to our Portal page to find out lots of ways you can save money, or if you’re on the move, listen to the Student Support Podcast to get money tips on the go, as well as lots of other useful information from Student Services.

Even a small change can have a hugely positive impact on your finances, so give it a go and see what impact it can have for you.

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Student Money Adviser: Virtual Drop-in

Start Date: 7 March 2024 2:00 pm

End Date: 7 March 2024 4:00 pm

Location: Online

Book Now

Want some one-to-one support with your finances?

The focus of National Student Money Week 2024 is on maintaining your financial wellbeing at university. One of the best ways to do this is by talking and seeking help if you’re struggling.

Our Student Money Adviser, Carl, is putting on a special virtual drop-in session live on Teams, where he’ll be able to answer your questions and offer tips and tricks on managing your finances.

Whether you’re looking to make your budget stretch further, have a question about your student loan, or you’re just a bit worried about money and need some guidance, drop in and get some support.

Here’s some quick instructions on how to get involved:

  • We would never expect you to talk about your finances in front of others, so we’re operating a lobby system so you can be sure you’ll be receiving one-to-one support.

  • When you join the call, you’ll join the lobby, and when it’s your turn you’ll be admitted.

  • Once you’re in, let us know what’s going on and we’ll offer you guidance on steps you can take to improve your situation.

  • Finances can be complex, and we expect this event to be busy, so if your query or situation needs a bit more exploration, we might ask you to book a longer appointment on another day so we can make sure you’re receiving the support you need.
Read More
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