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Mrs members' Evening - March 2016
- 1. Anjul Sharma Head of Client Development FreshMinds ON YOUR SIDE Researching society’s most vulnerable with true empathy Drew Drewery Customer Experience Nationwide
- 3. To deepen our understanding of financial difficulty What are the triggers and warning signs of financial difficulty? What actions do those facing financial difficulty take? What emotions do those in financial difficulty experience? THE GOAL
- 4. OVERCOMING THE OBSTACLES A highly sensitive topic The need for balance
- 5. THE SOLUTION Phase 1: Explore thoughts and feelings Phase 2: Validate findings
- 6. MEET LINDSAY AND SIMON
- 7. 51% 50% 30% 26% 25% 4% 11% Job related factors Personal or family changes Economy or industry related Health issues Needed to make a large unexpected expenditure Gaming or betting Other TRIGGERS OF FINANCIAL DIFFICULTY
- 8. LINDSAY AND SIMON CHAT
- 9. EXPECTING CONTACT WITH BANKS TO B
- 10. 63% 37% Immediate response Delayed response felt there was no solution so didn’t react ACTIONS TAKEN BY THOSE IN FINANCIA DIFFICULTY Immediate reaction when faced with financial worries Reasons for delaying contact thought the situation would improve78% 44% avoided contact with those they owed money35%
- 11. LINDSAY AND SIMON CHAT
- 12. THE TOUGH EMOTIONAL JOURNEY Denial and isolation Anger Identity crisis Re- evaluation Accepta-nce
- 13. WE GOT FURTHER, FASTER BY ∕ Putting the customer at the heart of the challenge ∕ Breaking the confines of research ∕ Getting commitment from stakeholders
- 14. Anjul Sharma FreshMinds Anjul.Sharma@freshminds.net www.freshminds.net QUESTIONS AND DEBATE Drew Drewery Nationwide Drew.Drewery@nationwide.co.uk www.nationwide.co.uk
Editor's Notes
- Lindsey I’m Lindsay. I’ve been with my partner Trevor for over 10 years and we live together in a 2 bedroom home in Manchester. We’d never had any problems money-wise and always prided ourselves on being careful with our money. We shared responsibility for everything: our mortgage repayments, the bills and we were never once late with our payments All of that changed 2 years ago when I noticed a lump on my breast. I went straight to the doctor as a precaution but I didn’t think it would be serious, surely I was too young for this sort of thing to happen to me But I was wrong. I was told I had breast cancer and that they needed an operation. Fast. Within a week I was in hospital, my world up in the air, my partner in tears at the thought of losing me It was such a horrible time. I felt so scared. I panicked every waking minute and had no one to talk to. To begin with, all I worried about was my health but then it began to spiral into other things too. I knew I’d have to stop working and that without my money coming as a senior manager in a logistics firm we wouldn’t be able to pay our mortgage. I didn’t know what to do I shut myself off from my hubby Trevor because he already looked a wreck and I didn’t want to be another burden for him So tell me Simon what happened in your case? Simon I’m Simon. Married with 3 kids and 2 dogs. I used to work at the local airport as a security manager. I was really dedicated to my job, I’d work overtime, I’d give up my free time to help them out at the airport out. I even left our anniversary dinner early to rush to the airport for an emergency shift Then what do they do? They threw it back in my face. Re-structuring they called it. My foot!!! In November last year, they made me redundant. With no money coming in and a family to support, I didn’t know what to do and I just went off the rails now that I think about it. I couldn’t think straight. I couldn’t even get myself out of bed on some days. I started putting money on credit cards to make ends meet but soon I couldn’t pay them off