Financial education and wellbeing

Our financial wellbeing web page supports you to develop a robust approach to support your staff with financial wellbeing in the workplace.
Health and Wellbeing

15 May 2024

A quarter of people in the UK are suffering with money problems so substantial that it is affecting their ability to do their job, according to a new survey carried out by CIPD and Close Brothers Asset Management of more than 1,800 UK employees. The number reporting problems rises to a nearly a third (31 per cent) among 18-24 year olds, and those living in London (32 per cent). 

Financial wellbeing is a shared responsibility between the employer and employee.

Healthy financial wellbeing can be defined as:

'how much your financial situation and money choices provide you with security and freedom of choice.'

Financial wellbeing is now more important than ever. As the cost-of-living crisis continues, it is having a detrimental impact for some of our NHS staff. This has led to NHS organisations reviewing their current employment packages to support their staff's financial wellbeing, as ensuring that a comprehensive employment package is offered to staff will contribute to retaining valuable talent and help make you an attractive employer for new recruits.

Advice and recommendations for employers

  • One common misconception around financial wellbeing is that it isn’t the employer’s responsibility, it’s down to the individual. However, the reality is that financial wellbeing is a shared responsibility between the employer and employee.
  • To support employers, we have created an area on our website called the cost of living and good employment, which brings together important resources, examples of good practice and practical examples of what organisations in the NHS are doing now. 
  • Our developing a financial wellbeing strategy guide supports you to establish the foundations you need to develop a robust approach to support your staff with financial wellbeing in the workplace. It includes a four-step approach which means you can start your journey at whichever point is relevant to your organisation.

Emerging practice and case studies

  • South Yorkshire and Bassetlaw Integrated Care System has created a financial wellbeing web page with supporting resources on its workforce wellbeing website. The organisation also held a very successful financial wellbeing programme, a series of webinars on different topics and they are planning to host another financial wellbeing programme in the summer. The ICS has been in touch with an organisation called Infinity Connect, to run practical and engaging webinars within their programme.

  • Newcastle Upon Tyne NHS Foundation Trust provides free and easy access to impartial information and confidential advice, information, and guidance across a range of matters, such as access to welfare benefits, housing issues and money management via its ‘Helping Hands’ service. This is delivered by Citizens Advice and coordinated by the trust chaplaincy team. The trust is also currently delivering webinars on help with energy worries.

  • Oxford University Hospitals NHS Foundation Trust has worked with Grant Thornton to create a guide to support staff with claiming tax relief on job-related expenses. The guide includes information on who can claim, how to claim, and examples of possible claims. View the guide. (PDF)

  • Royal Berkshire NHS Foundation Trust has collaborated with Citizens Advice Reading (CAR) to develop a new service supporting the financial wellbeing of staff, with bookable one-to-one on site appointments, based in the Oasis Staff Health and Wellbeing Centre. Help sessions with the CAR outreach advisor are available each week, building on a service currently in place with CAR providing MacMillan support for cancer patients and their families at the Royal Berkshire. The long term intention is to roll out the new service to patients in the trust, and to offer community based advice sessions, maximising the impact by working with communities in less well served areas of the Borough. A full time outreach advisor has been appointed by CAR to take forward the work to support the trust and its employees. Both partners look forward to seeing the positive impact of the new project.

  • The trust work with Lucra mortgages who provide free financial advice and guidance to NHS staff. Lucra attend the trust to host one-to-one sessions with staff. 

    The trust has published a financial wellbeing web page, which signposts staff to external support. They also signpost to the Greater Manchester Poverty Action (GMPA) Money Advice Referral Tool. The tool aims to help organisations and professionals by simplifying processes and sharing key information. 

    The trust also create financial wellbeing infographics to circulate amongst staff. These are easily accessible for those who may not have regular access to the intranet. 


  • The trust work with Citizens Advice Bureau (CAB) who attend site four days a week to provide one-to-one sessions for staff. The trust has made it a priority to make sessions accessible for all staff, introducing early evening sessions for shift workers. CAB work with both patients and staff and since implementation in early 2023 the partnership has generated over £160,000 in benefits that service users had previously missed out on.


  • The trust conducted a financial wellbeing survey and accessed NHS charities money to fund a health and wellbeing manager post for three years. They offer financial wellbeing sessions and work with the pension service to provide webinars.  

    The trust works with local authorities to offer free wills and power of attorney services. Other partners include the consumer council, national energy action and the local police service.

    The trust also created a quarterly financial wellbeing magazine, to ensure the financial support on offer was communicated to all staff.

  • The trust has produced a financial wellbeing guide for staff to assess their personal financial situation. Depending on the level of support required, the guide signposts staff to different forms of support.

 Further tools and resources