Over one fifth of UK households have less than £100 in savings to cushion themselves against economic shocks. With Christmas gone, frontline organisations anticipate more money-related enquiries from people in need as they seek support with their household finances.
In our first webinar of 2022 we hear what budgeting challenges households have, and what support advisors can give to their customers.
With guest speaker Keith Thorne, Service Manager, Citizens Advice Caerphilly Blaenau Gwent
Listen back to hear
- The impact of the pandemic and rising living costs on indebtedness
- A view from the frontline with Citizens Advice Caerphilly Blaenau Gwent
- How advisors can make a difference
Listen back to our guest speakers
Deven Ghelani
Director and founder
Policy in Practice
Keith Thorne
Service Manager
Citizens Advice Caerphilly Blaenau Gwent
Genevieve Hampson
Better Off Calculator Product Manager
Policy in Practice
Ed McNamara
Software Account Manager
Policy in Practice
Webinar poll results
Our enquiries halved during the pandemic because of moratoriums and supports that were in place and they're being removed now.
The top issue we're seeing in households is around mortgage, rent and council tax arrears. This has its additional impacts down the line such as fees and charges as well as potential homelessness. Fuel, water and telephone arrears is the second main debt that our clients are dealing with.
After a benefits check to ensure the client is getting everything they're entitled to, we can then do a budget to see the breakdown of where their funds are going and how some costs can be lowered.The main thing we want to do with clients is put in place an affordable budget that prioritises the main things that they need to spend on and budgeting for that in the future, in turn avoiding credit.