Article preview: How resilient are you to financial shocks? Life events happen to us all; anything from falling ill to losing a job, or separating from a partner. Any of these events can have a dramatic impact on our financial positions. A new report from debt charity StepChange, Life happens: Understanding financial resilience in a world of uncertainty has revealed that people who had experienced a life event in their household within the past two years are three times as likely to be in problem debt when compared with those who have not. This higher propensity to face problem debt in the years after a significant life event comes despite a range of coping strategies, which in many cases don’t appear to be working as planned.
Improving financial resilience to big life events
This 657-word blog post considers new research from debt charity StepChange looking at the range of strategies deployed following a big life event and what these mean for ending up in financial difficulty. Written on 17th July 2019.
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