This week Emma was invited to attend the Citizens Advice’s Parliamentary event to receive information on money management and savings. Emma met with people from across the charity’s network at the event and heard about how local Citizens Advice offices are working with people across England and Wales to help them with their finances.
Despite savage Government cuts to the service against a backdrop of increased referrals South Shields Citizens Advice helped 5924 people with their financial skills between April 2014 and March 2015. Benefit cuts, low pay, high fuel and food costs are all contributing to a situation where people are struggling to cope, at the event Citizens Advice shared their five top tips for good money management;
- Build your budget
List your regular income and spending to help stay on top of your money and to save for the unexpected costs which may occur within the future. By using the Citizens Advice budgeting tool there is a quick and easy way of doing this.
- Drill those bills
Check with your energy provider that you are on the best deal or you can ask your local Citizens Advice if they are running Energy Best Deal group advice sessions. Another way you could find if you are on the cheapest plan is by using the Citizen’s Advice price comparison tool.
- Control your credit
When struggling with debt, keep a list of what debts you have and compare it with your monthly budget. If you think you may struggle to pay some of them then ask your local Citizens Advice for help negotiating with your creditors.
- Plan your pension
If you are able to, you should top up your State Pension with your own pension to make sure you’ll have enough money to see you through retirement. Pension Wise offers free impartial guidance if you are over 50 and on a defined contribution scheme.
- Seek advice
Citizens Advice offers free impartial advice on money management and many other issues. However, for more complex issues like buying a house or considering investments, you may wish to consider paying to speak to an Independent Financial Adviser. Organisations like the Personal Finance Society can help you get in touch with Independent Financial Advisers.
Speaking after the event Emma said:
‘We have a Government that are presiding over some of the highest levels of poverty in recent times, they are doing absolutely nothing to help those on low incomes or those who are struggling with their bills. Citizens Advice Bureaus everywhere are doing all they can to make sure people don’t fall into the poverty trap, I and people in Shields value our local Bureau, we know that without them many people would be worse off. This event was a great opportunity for Citizens Advice to share their valuable work with Members of Parliament and I am happy to share their five top tips with constituents.’
