Money issues can build up over time and it’s all too easy to bury your head in the sand until you’ve got a serious problem. If you need help, there’s a lot of useful information on our website or you can talk to one of our trained money advisers.
When money’s tight, it can be tempting to build up credit card debt or turn to high cost lenders. Rather than helping, this can often lead to a spiral of problems as you end up paying ever more interest and owing even more money. Sometimes it can seem like there’s no way out, but there is help available.
As well as providing low cost loans and a safe home for your savings, the Credit Union offers money management advice and information to our members. In fact, one of the objectives of the Credit Union is to provide training and education to our members on the wise use of their money and the management of their financial affairs.
On the Money Management page of our website, we’ve put together some useful information and links, not only for people who have money problems, but for anyone who needs some advice and guidance on how to manage their money wisely.
The Money Advice Service – now known as MoneyHelper – offers free independent money advice on a range of things, from savings, borrowing, pensions, benefits and mortgages. You can get information from them about taking control of debt, with free debt advice and information on how to borrow affordably. Take a look at their website here.
Perhaps you could benefit from some guidance on budgeting and financial planning? If so, the MoneyHelper online budget planner could be useful for you.
It’s also good to check your credit score from time to time. If credit agencies have made a mistake about your borrowing and repayment records, you could end up being refused a loan or paying higher rates of interest. You do not need to pay to access your credit report – by law, Credit Reference Agencies have to provide a copy for free – and if you spot any errors on your file, you can have them corrected.
Of course, if you prefer not to do things online, you can always contact us to make an appointment to speak with one of our money advisors.
Martin Groombridge, Credit Union Chief Executive, said: “It’s easy for anyone to get in a mess with their finances, no matter how much they earn, but the important thing to know is that there’s free help available. The sooner you take action, the sooner things can be resolved, and you can get on with your life with one less thing to worry about.”