Free advice for nurses on coping with money worries

Nurses struggling to make ends meet can now access free debt advice from a leading provider through the RCN Foundation

Nurses who are struggling to make ends meet can now access free debt advice from a leading provider through the RCN Foundation.

The move comes as nurses face huge rises in the cost of living, with an increase in National Insurance contributions kicking in from Wednesday.

The RCN has warned that many nurses will be left worse off by the rise, which comes on top of increases in energy bills and petrol prices. It calculates that a nurse at the top of Band 5 with an annual salary of £31,534 will be £935 worse off in real terms even after the government’s proposed pay rise of 3% in England and Wales is taken into account.

RCN Foundation has seen surge in applications from nurses for hardship grants during pandemic

The RCN Foundation, a charity that supports nurses, has seen a surge in applications for hardship grants from its Benevolent Service during the COVID-19 pandemic, with some nurses forced to turn to food banks to feed their families. The charity has now joined forces with debt advice organisation PayPlan to ensure that nurses, midwives and support workers with money worries can swiftly get help.

• RELATED: Rising energy costs: the stark choice facing many nurses

RCN Foundation director Deepa Korea said: ‘Many nursing and midwifery staff have faced unexpectedly high costs or reduced income during the pandemic. More than half of the applicants seeking a grant from the RCN Foundation Benevolent Service have reported unmanageable levels of debt, which is having an impact on their mental health and well-being.’

The new arrangement with PayPlan means the charity can quickly and easily refer nurses for free advice to help get their finances back on track.

Partnership development manager at PayPlan Antony Price said: ‘We know these professionals lead busy lives and need advice at a time and in a way that’s convenient to their working rotas and day-to-day responsibilities.’

• RELATED: Don’t be afraid to ask for help, says recipient of ‘career-saving’ childcare grant

• RELATED: COVID-19: the support available for nurses facing emotional and financial hardship

Find out more

• PayPlan
• RCN Foundation
• RCN Foundation Hardship Grants

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