New project looks at how debt affects relationships
New resource for debt advisers to help couples struggling with debt
Research charity OnePlusOne has worked with Debt Advice Foundation and other debt charities to explore how being in financial difficulties can also put pressure on relationships, leading to the launch of the Debt and Relationships Project.
New resource for debt advisers to help couples struggling with debt
Research charity OnePlusOne has worked with Debt Advice Foundation and other debt charities to explore how being in financial difficulties can also put pressure on relationships, leading to the launch of the Debt and Relationships Project.
Research shows that debt is the number one problem area for newly married couples, with 55% of couples including money worries in their top three relationship strains. 60% of people who contact debt charities also report problems with their relationships.
Focussed around a series of videos which are voiced by couples discussing their real-life experiences, the project is designed to stimulate conversation about money and to show the importance of sharing the burden with loved ones.
Penny Mansfield CBE, Director of OnePlusOne, said:
“The couples whose debt journeys are presented in these videos, explain in their own words, how they got into debt, and, the impact on their relationship. Many relationships flounder under such strain. Getting help from a debt adviser is the first step but as these stories show, facing money issues together is often a way out of debt”.
Funded by the Department of Work and Pensions, the short animations are available to all organisations focussing on financial capability and demonstrate a number of journeys into debt, such as losing a job, reduced earnings after parenthood and gambling addiction. They also explore the feelings of isolation, guilt, blame, shame, and resentment that can be generated by keeping financial difficulty a secret.
David Roger, CEO of Debt Advice Foundation, said:
“Here at Debt Advice Foundation we fully support the Debt and Relationships Project that OnePlusOne are spearheading. It is very worthwhile. Talking about debt seems like the last taboo, but trying to hide financial difficulties from loved ones only increases the mental strain of the situation. The videos are a fantastic way to start those difficult conversations. Confiding in a partner can be incredibly freeing and may lead to practical solutions.”
If you would like to watch the videos they are below or you can visit the site here. You can also join the conversation on Twitter by using the hashtag #TalkMoneySecrets
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