North Warwickshire and Bedworth MP Craig Tracey is encouraging people living in our community to be one step ahead with their finances by getting help from Citizens Advice.
Alongside Citizens Advice, Craig is inviting local people to try out five tips to help them keep on top of their bills and save money.
People are advised to:
● Build your budget - List your regular income and spending to help stay on top of your money and save for unexpected costs or the future . You can use the Citizens Advice online Budgeting Tool.
● Drill those bills - Check with your energy provider that you are on the best deal. Ask your local Citizens Advice if they are running Energy Best Deal group advice sessions or use Citizens Advice’s price comparison tool for help cutting your energy bills.
● Control your credit - If you have debts, keep a list of them and compare it with your monthly budget. If you think you will struggle to pay some of them, 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 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.
The local Member of Parliament and former Insurance Broker commented:
“It is important to be one step ahead with our finances and Citizens Advice is offering a useful service.
“Developing money management skills can give a real sense of security and helps put you in charge of your money, keep on top of bills and avoid unaffordable debt.
“As local MP I have worked with Citizens Advice in Atherstone on a number of issues. Our local North Warwickshire CAB are especially good in regards to financial capability, they are award winners and have established a strong reputation in this field. I would encourage anyone who wants to improve their money management skills to contact North Warwickshire Citizens Advice.”
Craig Tracey met people from across the charity’s network at an event in Parliament on this week. He heard about how local Citizens Advice are working with people across England and Wales to help them work out a budget, save money on bills and build confidence using online and mobile banking. Citizens Advice can also help people understand the benefits of seeing an Independent Financial Adviser.
Citizens Advice helped 6373 people in the West Midlands improve their financial skills between April 2014 and March 2015.
Citizens Advice Chief Executive Gillian Guy said:
“Managing your money better can help keep your family and home secure.
“Getting help with planning a budget can put people in a better position to pay for daily costs and cope with sudden expenses such as emergency car repairs. Shopping around and negotiating with energy and broadband suppliers can also help to reduce your bills.
“Anyone looking to save money on their day-to-day costs can get help from their local Citizens Advice or checking our website www.citizensadvice.org.uk.”