Page 8 - LiveWire Edition 19

May Health Calendar
Spotlight on Financial Wellbeing
Case Study
Grant and the Electrical Industries Charity casework team remained in contact, and he applied for short-term financial assistance to help pay his bankruptcy fee. The Charity assessed his income and expenditure, and after evaluation, the welfare team awarded Grant the sum for the bankruptcy fee.
Grant’s bankruptcy application was successful, and
he could start on a clean slate with a renewed sense
of confidence that he could look after his financial
and mental wellbeing. Grant has adopted budgeting techniques and has placed restrictions on his electronic devices which forbid gambling apps or websites.
Grant now feels more in control of his health and his wellbeing and is looking to a more positive future.
Meet Grant:
The Electrical Industries Charity recently supported Grant, an electrical wholesaler, who
had been a problem gambler for many years, but his addiction really spiralled when he was furloughed from work. He found it difficult to keep himself occupied, and with hours of the day stretching ahead of him, Grant began to gamble more and more. Grant’s reduced wage also meant his gambling addiction was starting to seriously impact his financial as well as his mental wellbeing.
Grant started to rack up considerable debt, and when he returned to work, he was in a financial hole. Grant had attended wellbeing presentations facilitated by a Charity champion within his work and understood he could
get free and confidential support from the Electrical Industries Charity.
Grant contacted the Charity and spoke to a welfare case worker who helped Grant tackle his gambling problem head on. Grant’s caseworker referred him for cognitive behavioural therapy, which investigates thought patterns associated with negative behaviours. Grant had twelve sessions of therapy funded and sourced by the Charity, which helped him to establish coping techniques for when he felt the urge to gamble. The Charity also encouraged Grant to join a gamblers support group. Grant spoke to GamCare, a free information and support line for problem gamblers, and they established a network who acted as a lifeline for Grant.
The Electrical Industries Charity also put Grant in touch with StepChange, a debt charity who provide practical financial advice and support. StepChange conducted a robust and detailed financial review and recommended bankruptcy as the most suitable option.
Want to get started on a budget or saving?
To get you started on your financial wellbeing journey, here are some really helpful resources that you can use:
Handy calculators: Save and cut back on costs with these easy-to-use calculators. Get budget help here, with calculators that cover everything from mortgages to Christmas money planning.
www.moneyadviceservice.org.uk/en/categories/calculators
Budget tool to look at annually when thinking about your financial wellbeing. This free Budget Planner puts you in control of your household spending and analyses your results to help you take control of your money. It’s already helped hundreds of thousands of people.
www.moneyadviceservice.org.uk/en/tools/budget-planner
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