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Debt Awareness Week 2026, organised by StepChange Debt Charity, takes place from March 16–22, 2026.
The week aims to break the stigma surrounding debt, encourage open conversations, and promote free, expert debt advice. It focuses on helping people recognise the signs of debt and access support.
Planned Future attended a recent StepChange webinar ‘Debt doesn’t define you: Eliminating stigma & understanding the state of UK debt‘. They spoke with over 150,000 clients in the UK last year. Of these, 60% were women and 44% were in full time employment.
Debt Awareness Week is a timely reminder that debt isn’t just a financial issue, it’s a human one. Behind every statistic is an employee worrying about bills, struggling to make ends meet, or unsure where to turn for help.
Workplace financial wellbeing is a critical tool in helping people understand money, avoid problem debt, and build long-term financial resilience.
The scale of debt in the UK
Debt is a normal part of modern life (mortgages, car loans etc) but for millions, it’s becoming unmanageable.
- Total UK personal debt is now around £1.8–£1.9 trillion
- The average household debt sits at roughly £66,000+ (including mortgages)
- Over 400,000 people sought debt help in 2025, a 44% increase since 2021
- Around 4 million people live in households that can’t cover essential costs
Even more concerning is how people are falling into debt.
Recent research shows many are borrowing simply to cover everyday living costs, with mismatches between income and bills pushing people into short-term credit reliance.
And it’s not just unsecured debt as arrears on essential bills like energy, rent, and mortgages are rising, described recently as the new normal for many UK households .
Why people fall into debt
There’s a common misconception that debt is caused by poor choices. In reality, it’s often driven by structural and behavioural factors:
Lack of financial understanding
Many employees have never been taught how to budget effectively, prioritise debts or how to understand interest rates or repayment strategies. The CPD certified Foundations in Personal Financial Planning workshop will hep your workers make better financial decisions, whilst giving them a clear understanding of their financial situation
Income vs outgoings gap
Millions of households are in a negative budget, where essential costs exceed income. Average deficit is around £343 per month, this creates a cycle where debt becomes a necessity, not a choice.
Easy access to credit
Modern finance has made borrowing frictionless. Credit cards, BNPL, loans are often available without enough understanding of long-term impact.
Life events & financial shocks
Redundancy, illness, divorce, or rising living costs can quickly destabilise finances, especially without savings or a plan. Our Planning For Life’s Financial Challenges event helps employees work their way through tough stages and situations.
The hidden cost of debt in the workplace
Employees struggling financially are more likely to be distracted or less productive, take more sick days and experience stress, anxiety, and burnout. This directly impacts business performance and incurs additional costs.
Financial stress is consistently one of the top causes of reduced productivity in UK workplaces, making financial wellbeing a business-critical issue.
How financial wellbeing prevents (and reduces) debt
Better financial literacy builds financial confidence. When employees understand how to budget, prioritise debt plan ahead they make better decisions before problems arise.
If people understand their finances better, they may be ably to apply earlier intervention if their debt is becoming unmanageable. The earlier someone seeks help, the easier debt is to manage. Yet many people delay getting support due to stigma, lack of awareness or not knowing where to go. 20% of clients StepChange spoke to admitted feeling ashamed of their situation – delaying their intervention.
Good financial wellbeing programmes help employees build better money habits. This can help with building emergency savings, reducing reliance on credit and planning for future expenses.
Not everyone needs regulated financial advice but many need clear, accessible guidance, support and signposting. A 30 minute Money Guide meeting can help employees understand their options and know where to get the support they need.
The role of employers in debt prevention
Employers are uniquely positioned to make a difference. By embedding financial wellbeing into the workplace, organisations can:
- Reduce financial stress across the workforce
- Support employees before debt becomes unmanageable
- Improve retention, engagement, and productivity
Simple steps include:
- Financial education workshops
- Access to guidance and one-to-one support
- Debt awareness campaigns (like this week)
- Signposting to trusted resources
Where to get help with debt
If employees are already struggling, early support is key.
Trusted UK resources include:
- StepChange – Practical debt solutions and support
- Citizens Advice – Free, confidential debt advice
- MoneyHelper – Tools, guides and financial education
Encouraging employees to seek help early can prevent long-term financial harm
