Do you know someone with money worries
What can you do to help someone close to you who is having money problems? First, delve into what you can do. What can you do and when is it better to get professional help? You can detect quite easily when someone is having (incipient) money problems. Below are the signs that may indicate that someone has money problems.
Talking helps.
But that is precisely what is so difficult. In the Netherlands we don't talk easily about money worries. Even though everyone has money worries at some point in their lives. Try to start the conversation carefully. Take a look at our tips.
There are quite a few signs that may indicate that someone is in money trouble. Recognize signs from the list? Then gently try to start the conversation. See tips on how best to do this.
Offering help costs nothing!
Worried about someone with money worries? See what you can do yourself. Together we can work it out!
Recognize the signs:
Pay and spend
- Direct debits are not debited
- Frequent inability to withdraw cash
- Frequent use of a credit card
- Make regular online purchases and choose to pay later
- Bills are not paid on time
- Withdrawing money from savings account, theirs or the children's
- Frequently being in the red
- Arrears with rent, energy and/or health insurance
- The money is on before the end of the month
Employment and income
- Requesting an advance on salary or vacation pay
- Wage garnishment
- Not knowing how much income is coming in each month
- Eager to work overtime or extra
Administration and overview
- Administration is not in order
- There will be mail from a bailiff or collection agency
- Not knowing what to pay monthly
- Not being able to save
Behavior
- Arguing about money
- Asking or borrowing money from family and friends
- Not attending birthdays (anymore) because there is no money for a gift
- Feeling ashamed about debts, avoiding contact
- Not daring to talk about money (problems)
- Sleep problems due to money worries
- Hoping to win a prize in the lottery to pay off debt
Tips to help someone:
Do you know someone in your area who would like to help you with late payments or debt. Here are some tips to help. You can, of course, by mutual agreement, seek help directly. This can be done in three simple steps.
Tips
- What can you do to help someone? What you can best do depends on the severity of the situation, but also on what the person you are helping is willing to allow and how they themselves are handling their money matters. Sometimes it is enough to put the administration in order together, sometimes you can help make a repayment plan, sometimes it is better to refer someone to a professional.
- Do you recognize the signs? Then take action quickly. The sooner, the better. Together you can then keep the debts down, making it simpler to reach a solution.
- You want to help someone. Don't take the helm, but support him or her.
- Try to increase financial literacy in your friend or acquaintance. You support them so that they can manage their money independently (again). This does not necessarily mean that they can do everything themselves, but it does mean that they know where they can find help if necessary. On this website you will find useful information and links to useful websites.
- Know your limits. What can you do for another person? Agree in advance what you can do for the other person. Will you help someone organize their records, fill out their repayment plan, write letters, fill out tax forms or refer them to a support agency? Or are you supporting someone during a debt settlement? Keep an eye on these tips:
- Check if this matches what the other person wants from you
- Leave control and responsibility for all financial dealings and payments with the other person
- Let the other person do as much for themselves as possible
- Do not use debit cards or make payments without consultation
- Do not take home original pieces that do not belong to you
- Write letters together and always in the other person's name so that responsibility for keeping agreements also remains with them
- Don't judge someone's actions, even if you don't agree with them
- Don't lend money
- If more is being asked of you than you can, know or want, in consultation with the person you want to help, enlist help in three simple steps. Of course, you can also refer to other help organizations.
Useful links for more information:
When do you refer someone?
Is someone not succeeding or are debts increasing? Or do creditors not want to cooperate and more guidance is needed? Then it is wise to refer someone to helpopmaat.nu in three simple steps or to engage other professional help.
Sometimes a person has other problems besides debt, such as:
- A decrease in income. For example, due to unemployment, divorce or the death of a partner. Try to estimate how long income will be lower. If it is temporary, someone may be able to arrange a temporary settlement with a creditor.
- An addiction. An addiction (alcohol, drugs, gambling or buying) costs money. For a debt settlement to succeed, the addiction must also be addressed. Check with the municipality for help with addiction problems.
- Someone structurally spends more money than comes in. Many municipalities give courses to learn how to manage money. You can give that as a tip.
- Extra high expenses due to illness. Check the IRS site to see if someone is eligible for tax deductions.
- Housing costs too high relative to income. Check the Tax Office site to see if someone is eligible for rent subsidy. With a house for sale, you may be able to talk to the mortgage lender about whether the monthly expenses can be reduced.
Useful links for more information:
