Advice on dealing with money and debt
Wednesday, March 06, 2024
We are offering residents expert advice on how to save money and manage debt.
Last year, 1,000 households were helped by our Money Smart service. It advised people on how to manage more than £1.3m of debt.
And it helped people to reduce their monthly debt payments by 76%. The team also secured over £361,000 in grant funding to help vulnerable residents.
“The cost-of-living crisis has affected many residents. With household bills on the rise, it has become a really tough time for many people in our district. We’re here to offer expert advice and to continue to help households.”
Cllr Michael Graham
Cabinet Member for Regeneration and Economic Growth
“If you’re struggling financially, it’s always best to ask for help early on. Making small changes to how you manage your money can make a significant difference and ease money worries.”
Cllr Maureen Cummings,
Cabinet Member for Communities, Poverty and Health.
To qualify for Money Smart advice you must own their home or privately rent.
The service offers one-one support. It includes advice on maximising income, budgeting and managing debt. As well as how to deal with mortgage arrears, reduce energy costs and debt. There’s also advice on accessing adult education, training, and developing job skills – to help long-term finances.
Money Smart can also provide Energy Debt Fund grants to help people having problems with energy debt. And it offers help to people in fuel poverty.
A few small changes to how people manage their money can make a big difference.
Call 01924 305892 or email moneysmart@wakefield.gov.uk
More details are available at Money smart - Wakefield Council
For other help services visit Money - Wakefield Council
Case Study.
**Anna approached Money Smart for help when she fell behind in paying Council Tax.
She was struggling financially following a relationship breakdown. This led to a dramatic reduction in household income.
Anna was extremely concerned as she knew she didn’t have the money to cover the debt.
The Money Smart team helped her with completing an application form. And advised on the actions that could be taken. This included getting the amount owed back-dated to when her partner had left. And advising on restructuring her payments to make them manageable.
Anna contacted her advisor to say: “It was so nice to speak to someone with your depth and breadth of knowledge, it was so unbelievably refreshing and helpful.”
**Anna is not her real name. It has been changed to protect her privacy.