News
Reflections from Debt Awareness Week
Last week was Debt Awareness Week, offering an important opportunity to highlight the challenges many individuals face in managing their finances, and to recognise the support available in this area.
In my Veterans and Finance report, published in June last year, I explored the financial wellbeing of Scotland’s veteran community, examining some of the distinct circumstances and issues they may experience as a result of their service.
While the majority of veterans transition successfully into civilian life and enjoy financial stability, a minority face complex and often overlapping challenges. Navigating unfamiliar welfare systems, understanding pensions and compensation, and building financial awareness and confidence outside of military structures can all present barriers.
Financial stability is fundamental to our overall wellbeing. When difficulties arise, they can quickly impact other areas such as housing, employment, relationships, and mental health. That’s why accessible, timely, and tailored advice is so important.
Encouragingly, there continues to be strong collaboration across Scotland to improve support. I welcome the recent award from the Scottish Veterans Fund to Money Advice Scotland (MAS), which will provide £45,000 over three years to deliver specialist training for the sector across Scotland. This programme will equip advisers with the knowledge and understanding needed to better support veterans with their finances - an important step towards ensuring services are veteran-aware.
This aligns closely with one of the key recommendations in my report: that those delivering financial and debt advice should have a clear understanding of the unique circumstances veterans may face. From transition-related challenges to the complexities of Armed Forces pensions, tailored knowledge can make a significant difference in outcomes.
Debt Awareness Week also saw MAS launch a new campaign encouraging service providers and creditors to provide dedicated contact routes for accredited money and debt advisers. The “Adviser-Only Helpline” campaign aims to give stakeholders a clear understanding of the challenges money and debt advisers face, and the impact they have on people in debt.
In the free debt advice sector, slow response rates and repeated call disconnections cost time and resources. It can also be a major barrier to gaining the clients’ trust and confidence and can worsen outcomes, increasing stress and financial harm. An adviser-only line would help advisers, particularly when dealing with people with mental health and other underlying issues that make them vulnerable.
For veterans already navigating unfamiliar systems, improvements like these could be particularly impactful.
Alongside practical financial challenges, my report also highlighted the heightened risk of gambling harms within the veteran community. This remains an area where awareness, early intervention, and accessible support are essential.
Organisations such as RCA Trust and GamCare provide specialist help and I was pleased to see both of these services recognised this month with the Care Quality Commission publishing independent assessments praising the quality and effectiveness of their support. It was also announced that the RCA Trust has been awarded almost £1.1m from the UK-wide Gambling Levy to extend its counselling, group work and rehabilitation services across Scotland, reaching veterans, prisoners and Alcohol and Drug Partnerships.
For any veteran experiencing gambling-related difficulties, it’s important to know that effective, specialist support is available, and I would encourage them to seek help without hesitation.
On that note, I appreciate that it can be hard for anyone to ask for help – not least when it comes to financial worries. For the veteran community, we know this can be exacerbated due to fears around unfamiliarity of engaging with civilian support services, and a belief that their specific needs won’t be understood.
Therefore, it’s important that veterans are empowered to engage confidently with financial advice services. Money Advice Scotland have shared this session on how to speak to an adviser – an important resource for those who may feel uncertain or apprehensive about seeking help.
While Debt Awareness Week shone a spotlight on these issues, the need for action extends far beyond a single week. We must continue to build a system where support is not only available, but visible, accessible, and responsive to the needs of veterans and their families.
There is much to be positive about. Across Scotland, statutory services, charities, and the financial sector are working hard to provide high-quality support. By building on this strong foundation through improved awareness, enhanced collaboration and targeted initiatives, we can ensure that no veteran is left at a financial disadvantage because of their Service.
Support
If you are looking for advice relating to money management, debt, or harmful gambling, there is more information about available support below.
Money Advice Scotland - Advice agency finder
You can use this tool to find a service close to you that offers the type of support you need.
Find an advice agency | Money Advice Scotland
Citizens Advice Scotland – Money Talk Team
The Money Talk Team website can point you towards a wealth of information and resources about money and debt, and also explains how to set up an appointment with an adviser at your local Citizens Advice Bureau.
Citizens Advice Scotland | Money Talk Team
RCA Trust
The RCA Trust is the main support provider for gambling-related harms in Scotland, and is involved in the delivery of the Armed Forces Gambling Support Network, meaning they can provide tailored support for veterans.
GamCare
GamCare runs the UK’s National Gambling Helpline, which is available 24 hours a day, seven days a week, on 0808 8020 133.
You can also chat with an adviser online or through WhatsApp, connect with an online community of others affected by gambling, or find support in your local area.
RSS
