First Aid for Finances

03/04/2020

The current situation means financial hardship for many, and for some compounds an existing problem. In today's blog, we're looking at things you can do to help. 

We are not financial experts, but rather techies who know where to find authoritative info. For this reason, a number of our links today come from the The Money Saving Expert, (MSE) a very practical and helpful site that is worth subscribing to. They are working to ensure all their information is up to date. 

We've listed sites that can help with longer term financial issues, as well as problems created by the immediate situation. Whether you need urgent help, or simply have some time to clean up your finances, there are resources to help you. 

Coronavirus Finance and Bills help 'The coronavirus pandemic has already fundamentally changed the way we live. It's an anxious and upsetting time, and while the primary concern is health, our financial wellbeing is also important. Many are worrying about paying their mortgage, rent and other bills. This guide runs through help for financial products and other bills.'

Employment and Self Employment Coronavirus help

'This guide looks at your rights at work for the employed, self-employed and others, including who's eligible for furlough, and also what help is out there from the state.' 

Financial Spring Clean

This very helpful blog shows you how to check your bills, and identify any savings that can be made. (Be aware though that changing insurance providers in the midst of a pandemic could affect your cover. )

Help with debt

Stepchange is a charity that helps people to deal with debt. They can help you find the best solution for your situation, and help you set up a debt management plan and budget, negotiating with your creditors. It can stop those pesky debt collection calls, and help you get back on track. They offer a lot of advice and support. They also have a page for finding emergency financial support. 

They are currently very busy, and don't have many lines open, so try to find the answers you need on the website. 

Benefits & Welfare Check

MSE has a section to help you check your entitlement to Benefits. This is an older blog, so doesn't cover the current changes.

They also have information on applying for grants for home improvements, holidays etc, depending on your situation. 

Pensions and investing

For those not struggling financially, you may want to look at this guide for pensions and investing. Our preferred investment platform is from AJ Bell. 

Saving on Shopping

A basic principle is that you don't spend in order to save (no matter what the deals tell us) in our last blog we talked about shopping online. MSE also has a section on deals, vouchers and savings that you can check out, and save on buying the things you need. 

Citizens Advice

Another avenue to explore for financial advice and guidance is Citizens Advice. They have sections on Debt and Money; alongside information on Work and Benefits. They provide free, confidential advice.

We hope you've found this blog helpful!