News Citizens' Advice Bureau make appeal for better New Year money management
Boothferry CAB is urging people to start the New Year with good resolutions to manage their money.
Last year Citizens' Advice dealt with more than 1.7 million new debt problems: people are paying a high price for being ill-informed and unconfident when it comes to crucial financial decisions. That debt hangover from Christmas could turn into a nightmare if people ignore it. So here are a few tips from Boothferry CAB:
• If you are considering taking out a loan, make sure you shop around and get the best deal.
• Be wary of consolidating your debts. Get advice and don't put your home unnecessarily at risk.
• Plan to build up an emergency savings fund.
• Shop around for the best savings rates and check regularly that it is still the best deal.
• Check out tax-efficient ways to save money, like cash ISAs.
• Be wary of low-interest credit card transfers. Check the terms and conditions carefully.
• You may be losing money by sticking with your existing bank. Shop around, it's simple to change.
• Don't automatically renew your car/holiday/house insurance without comparing prices.
• Check that you are not missing out on money that you should be getting in benefits or tax credits, tax rebates or allowances. The CAB can help check this for you.
A spokesperson for the Bureau said:
"All too often we see people when they've already reached crisis point or can no longer cope with their problems. Yet by carrying out a regular financial overhaul and taking some preventative measures, many problems could be averted before they become crises. Traditionally, people make New Year resolutions to change bad habits - we're just urging people to do the same with their finances."
Although based in Pasture Road in Goole, the bureau helps clients from throughout the East Riding of Yorkshire and beyond. It holds face-to-face sessions twice a week in Goole - on Mondays and Wednesdays (9.30am - 1.pm) – besides hosting a telephone advice service (01405 762054) on Tuesday evenings (5.30pm - 7pm) and on Wednesday, Thursday and Friday mornings (9.30am - 1pm).
'Outreach' sessions by appointment take place as far afield as Beverley, Pocklington, Holme-on-Spalding Moor and Market Weighton.
Drop-in sessions are held in Snaith, Gilberdyke and Brough. Please ring 01405 720866 for appointments and opening times.
Published on 29th November 2007 in News.
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