Our value is likely to be greater: We have not put a financial number on everything we do, and this last section explains where else we can create value for society as well as future research plans. When working with the New Economy cost-benefit model, we have chosen to consider debt customers separately from other customers. So we have started with debt clients and removed any duplicates from other areas of advice.
Our evidence shows that 14% of working debt clients are worried about losing their job as a result of their debt problem. 27% of total debt clients who were worried about losing their home because of their debt problem 18. Total number of debt clients who say their problem is causing mental health problems, stress, anxiety or depression (73%) 31. Figures taken from the CSJS show that for those. reporting stress-related ill health, 8% received treatment from a counselor or psychiatric professional 32. dead weight Secondary evidence from a similar type of intervention, 4-5 years old.
The total number of debt-free customers who say their issue is causing mental health problems, stress, anxiety or. Total number of debt customers who say their emission is causing mental health problems, stress, anxiety or depression (73%) 36. Total number of debt free customers who say their emission is causing physical health problems (31%) 41.
Total number of debt clients who say their problem causes psychological problems, stress, anxiety or Total number of non-debt clients who say their problem causes psychological problems, stress, anxiety or depression (64%) 46. Total number of non-debt clients who say their problem causes problems in the family relationship (17%) 51.
The value of working with volunteers
Savings to local and national government (fiscal benefits)
Wider economic and social benefits (public value)
100 million
Management information: Burgeradvies annually collects information about the local network through our Characteristics Survey. Value of volunteering research: In 2013, Citizens Advice conducted research with our volunteers to learn more about the benefits of volunteering at a local Citizens Advice. Our impact research proves that Citizens Advice is a constructive 55 environment that helps volunteers develop themselves and their skills, and that volunteering can play a role in providing the opportunity to build the necessary skills, experience and confidence that will help people find work.
As we do not collect details of the unemployment benefits our volunteers are on or obligations in relation to any payments, we do not. 59 New Economy unit-cost database: Department for Work and Pensions replies to Parliamentary Questions, HC Deb 6 February 2013, vol 558, col 352W. Our volunteers report that their volunteer experience has allowed them to advance in their careers as well as increase their salary.
Each year, 1 in 4 people experience a mental illness, including anxiety or depression. For people with such mental illnesses, volunteering 66 can provide the opportunity to socialize with other people, participate in society, and feel more confident in a workplace. Our evidence suggests that volunteering reduces individuals' stress levels and that people with existing mental health conditions feel more able to cope with their condition.
We use a high optimism bias, reflecting that although our evidence shows an impact on mental well-being, we do not know the magnitude. 72 New Economy unit cost database: Based on apportioning the willingness-to-pay value for the QALY effect of depression (£35,400 per year) across all well-being domains as reported in the National Accounts of Wellbeing. We use a high optimism bias, reflecting that although our evidence shows an impact on mental well-being, we do not know the extent of reported improvements.
76 New Economy Unit Cost Database: Based on the willingness-to-pay value split for the QALY impact of depression (£35,400 per year) across all areas of well-being, as defined in the National Well-being Accounts. 79 New Economy Unit Cost Database: Based on the willingness-to-pay value split for the QALY impact of depression (£35,400 per year) across all areas of well-being, as defined in the National Well-being Accounts. Volunteering with Citizens Advice can increase knowledge of issues affecting their local area, as well as the opportunity to interact with a wider part of the community.
As a result, volunteers are likely to feel more connected to their community: it can have a positive impact on an individual's feeling. 82 New Economy Cost Database: Based on dividing the willingness to pay value for the QALY impact of depression (£35,400 per year) across all domains of well-being, as outlined in the.
Our benefits to individuals
Benefits to individuals through advice provision is at least
2.6 billion
Value to individuals of debt advice
647 million
Value to individuals of consumer
94 million
Value to individuals of benefits advice
1.85 billion
The estimated £413m of debt we have successfully restructured, while this benefits customers, the debt is still outstanding and therefore we have not included this in our financial model. Our understanding of the value of direct-to-client advice is supported by evidence from our management information and research. Management information: We have once again drawn on the significant amount of data we have about our customers and their problems to consider our impact.
Outcome recording: Where a specific customer outcome is known to have occurred, local citizen councils are encouraged to record it within our CRM, using a set of common outcome codes that enable us to record consistently across the network. National results and impact research: In our follow-up research with our clients, we asked individuals about any specific results they achieved through our advice, and therefore we measured how those results were distributed. Customer Helpline Satisfaction Survey: We conduct follow-up surveys every six months with a representative sample of customers who use our.
We then aggregate these figures to produce a set of results based on feedback from 3,700 customers. In addition to finding out details about whether we solved their problem and their customer experience, we also ask consumers to tell us the financial value of the service to them.
Value of benefits advice to individuals
Value of debt advice to individuals
For reference, we do not report the total amount combining written off and successfully rescheduled debts, as these are different types of financial results. In our impact report and this technical annex, debt write-offs are reported as gains to the individual, but rescheduled debts are not.
Value of consumer advice to individuals
Our value is likely to be greater
What we haven’t monetised
The estimated £413m of debt we have successfully restructured for the benefit of these customers and also the creditors of debts being repaid where they might not have been and averting the costs they would have incurred chasing them. Financial gain for individuals from charitable foundations or goods and services in kind, as well as financial results related to housing, employment, relationships or other issues. We have also only made money from our impact for one year, but this kind of impact has long-term positive benefits for the people involved and the state.
We have not included any of the benefits of our teaching work in our financial estimate. Avoiding the downside that comes with problem debt, by making informed decisions and increasing financial stability for the future. We are now developing specific measures to better understand the impact of our educational activities in the short and long term.
This report has not included the financial benefits brought about by our extensive research and campaigning work, both locally and nationally. We can therefore attribute some of the impact to our work, such as the commitment to increase the support available to parents with the cost of childcare or our recent work with credit intermediaries. Our previous research and campaign work still benefits consumers today, such as security of tenancy deposits, total cost of credit limit for payday loans and compensation and redress of mis-sold PPI.
This includes our recent work to ensure customers are registered to vote in general elections and our ongoing work on labor market experiences. For more information on research and campaign successes and their value, see our full impact report: Helping people find a way forward: a snapshot of our impact in 2015/16. Our impact and evaluation team will take this work forward over the coming years, exploring how we can measure the impact of our education and campaigning work, and expanding our understanding of the impact of advice.