Introduction

Many of us will have felt the impact of the rising cost of living. It’s tough and it may mean you have to make difficult decisions, including borrowing money to pay for household expenses such as food and bills.

In the Armed Forces, managing money responsibly has long been seen as part of being professional and ready for duty. Service life has traditionally placed a strong emphasis on financial discipline, because uncontrolled debt can affect wellbeing, performance and trust.

That’s why this module isn’t about blame – it’s about staying in control of your money, even during difficult moments. There are times when borrowing can be necessary during financial pinch points – for example around moves, postings, deployments or family changes. But the key is that any debt should be managed, planned for and understood.

For some, money worries can feel embarrassing and even shameful. Remember, you are not alone. Average household debt has risen in recent years and increasing numbers of people owe money. But we know that the stress and stigma of debt can take its toll on your mental health and wellbeing.

There are seven short videos in this series. The goal for these videos is to help you understand and control your borrowing levels – and understand the risks that debt carries. If you already have high debts, don’t despair – this series of videos will help you to understand your options.