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Financial wellbeing

Wellbeing image - financial planning

Financial wellbeing is about feeling secure and in control of your day to day finances and having freedom to make choices for you and your loved ones. It also means being able to plan for those "rainy days" so you don't have to rely on credit cards or expensive pay day loans.

Despite the best plans, financial worries can happen at anytime - even the best saver may suddenly be hit by a huge roofing bill or need a new car.

Below are links to various sources that could help you maximise your financial wellness, get general advice and support if you have financial stress.

If you can reduce any financial stress with a plan it will make you better able to focus on other important areas of your life and relax.

 

 

Financial Wellbeing Toolkit

Mercer, a firm that specialises in helping organisations support their employees’ wellbeing, is providing you with access to free guides and other financial materials they have produced to help you, your families and your friends manage your finances during this period. 

These resources are designed to help you  through these difficult times by giving you access to material, links and content that regularly updated.

Access via this link.

Content includes:

  • Practical financial information
  • Money saving hints and tips
  • Checklists and planners
  • Videos or podcasts on financial matters
  • Links to other useful sites providing information on support available

And more content will continue be added over the coming weeks and months

University support

The University provides numerous ways to support your financial wellbeing:

  • Save money on day to day purchases and luxury items with the UniDiscounts and Wider Wallet (secure to staff only)
  • Cyclescheme - Purchasing a bike via our Cycle to Work Scheme helps you save 25-39% on a new bike to commute to work.
  • Workplace Nursery Scheme - you can opt to pay the full nursery costs directly from your gross income (this is your pay before tax and NI) instead of part of your salary. You only then pay tax and NI on your salary after the childcare vouchers/fees have been deducted – so you can save hundreds of pounds a year.
  • Annual Season Ticket Loans - The University can provide eligible employees with an interest free Season Ticket Loan to enable the purchase of public transport annual season tickets.  For even greater savings some transport operators offer special discounts to University employees.
  • On campus sport and fitness classes - Affordable and accessible classes each day.
  • Further Education and Higher Education (FE/HE) Funding Scheme - Ways to study and develop your career.
  • FoodinAdvance Use your staff card to save 10% across food on campus is so simple:
  • MOOCs - Massive Open Online Courses (MOOCs) are free online courses available for anyone to enroll. MOOCs provide an affordable and flexible way to learn new skills, advance your career 
  • Pre-retirement Courses - to help you be better prepared.

Other external advice and support

You can access guidance and support on managing your money via:

Credit Unions

A credit union is a financial co-operative which provides savings, loans and a range of services, such as a Christmas Club, to its members. Membership is restricted to persons who fall within a common bond such as where you live. Unlike banks, credit unions are not for profit. They are owned by the people who use their services, so the emphasis is not on maximising profits but on providing the best service to members. Like high street banks, they are regulated by the Financial Conduct Authority. Credit union appeal to those who want to benefit their community or are looking for ethical financial services.

Two local credit unions for staff living in the Manchester area are:

Manchester Credit Union

South Manchester Credit Union

If you are interested in signing up with a Credit Union based near your home location, The Association of British Credit Unions Limited (ABCUL) has a Find Your Credit Union website. If you'd prefer, you can call ABCUL on 0800 015 3060.

Finances and mental health

If you are currently experiencing worry, anxiety or depression due to financial worries:

Webcasts and webinars

Understanding your finances during the Covid crisis via Wealth at Work