To help our financial well being
Here’s a list of things that can really help and I feel a must in these difficult times, I have called it our FAB FOUR
1.TALK ABOUT MONEY
2.MAKE A BUDGET
3.CHECK YOUR POLICIES
4.SPEAK TO CREDITORS
1. Talk about Money
How do we start conversations about money, it’s a difficult one and one many of us shy away from
Take a deep breath and ASK!
It’s good to Talk with someone we trust.
If you know people you think may be struggling financially, make time to call to check in on them
There are some Tips on Talking about money on the Money Advice Service website
And a pdf doc that may bemaybe good to distribute
2. Make a Budget
It’s always a good idea to do a budget but at this difficult time we all should all do an “emergency budget” whether that’s a full spreadsheet or on the back of an envelope, or one of our online planners, anything is better than nothing.
It’s not always much fun but you will be pleased you did it once it’s all over
This is what a colleague sent me earlier this week ………………..
“From our own situations, we are having to shop and support both sets of elderly parents and have had to use more expensive corner shops to get their shopping as the supermarkets were not safe to go near, I’m sure there’ll be others like us doing the same which will have a massive impact on budgets.”
There are some great online budget planners which work really well and in this time of home curfews perhaps we have a little more time to have a go!
Go to our favourite website, https://sandwell.betteroff.org.uk/
CLICK on Get Help & Advice (bottom right ) then CLICK on Debt Advice and Budgeting then Budget Planners – Take your pick and have a go !
3. Check your Insurance policies
Check whether you have insurance policies that would cover your mortgage payments or replace some of your income. For example:
- Payment protection insurance
- Mortgage payment protection insurance
- Accident, sickness and unemployment insurance
4. Talk to your creditors if you think you might miss a payment
Once you’ve done your budget if you think you’re going to struggle to pay essential bills make sure you talk to the people you owe money to before it becomes a problem.
Take a look at our website some good advice
Janet April 2020