The cost-of-living crisis is a real threat to the financial sustainability of households and the long term prosperity of Broxtowe. It’s important that the local community improves its financial resilience to economic shocks like the current cost-of-living crisis.

Whilst Citizens Advice Broxtowe has limited influence on the economy we are always looking to provide practical help and support for struggling households. We and our partners in the community provide a range of services that might be of help to local people struggling to manage and indeed offer a hand up towards improved financial resilience.

We have categorised local services that aim to improve financial resilience or well-being under the themes of Income, Spending & Debt and Assets. This is not an exclusive list so please contact the advice teams at Citizens advice Broxtowe to discuss your personal circumstances so that we can match you up with the support you need.

We also know from our clients’ experiences that financial difficulties can put a strain on mental wellbeing. This in itself can prevent people from taking the next step towards financial resilience. If you are struggling with the stress of money worries help is at hand from Nottinghamshire Mind.

For more information on our #FinancialResilience_Notts project check our webpage on a regular basis, this is a new and evolving piece of work.

Income

It’s important to ensure you maximise your income. This might be through claiming all the benefits and grants you are entitled to, accessing support schemes and looking to increase your household’s earning potential. When helping our clients we usually find that a combination of work and benefits is essential to balance the household books. Here’s a few links to support.

Click on the link to access Citizens Advice Broxtowe‘s services.

Online information on benefits entitlement can be accessed here. If you do not live in Broxtowe and are struggling to understand the online information, details of your local Citizens Advice service can be found on this link.

Nottinghamshire County Council have set up a dedicated Financial Support page that includes information on grants and vouchers that are available.

If you need emergency help with food you can contact the Trussell Trust. They also provide a range of support that you may find helpful. Locally the Trussell Trust operate through Hope. The Hope charity provide a range of services including Pathways to Employment, help with literacy and computer training.

Finding new employment or increasing your skills may help to increase financial resilience. In part, inflationary pressures are driven by a labour shortage and for those looking for work or a better paid job there may never be a better time to shift your value in the labour market. You may still be entitled to benefits whilst you work or train. Citizens Advice Broxtowe are happy to carry out ‘better-off’ calculations. Below we have listed a few links to employment and training services.

Spending & Debt

If you are struggling to pay your bills the first rule is to get help. The sooner we can help you the less complicated it will be to sort things out but whatever stage of financial crisis you are at it is never too late and you should not feel that you are the only person in this situation. Nationally Citizens Advice helped 280,000 people with their debts in 2021.

Get help with your debts here. Our Money Advice Specialists are waiting to help you.

Online information on money and debt is available here.

Information on consumer problems is available here and the Citizens Advice consumer helpline is 03454 040506

There are a number of projects aimed at reducing household spending on things like energy and other consumer items in addition to accessing grants to improve the energy efficiency of your home. Other projects will support you directly with improving your financial capability. Below are some of the projects operating locally.

You may be able to get help if you’re struggling to afford your energy bills or top up your prepayment meter. You might be able to take advantage of certain benefits, grants and help offered by the government and energy suppliers. Citizens Advice can provide you with information
Ashfield Energy Efficiency may be available to some residents in the North of Broxtowe as well as Ashfield. The project helps people get the best energy deal, reduce energy use, apply for grants and deal with fuel debts.
Discounted broadband packages are available to about 4.2 million households who receive Universal Credit. Visit the Ofcom site to find our more.
Money Sorted in D2N2 provides support and personally tailored interventions for people experiencing the greatest financial difficulty.  It will enable individuals to take control, build their confidence and skills and help them tackle barriers and problems in order to improve their financial well-being.
There are two charities in the UK that provide free, independent and expert help and advice for people on lower incomes who cannot afford to pay for professional tax advice. These are Tax Help For Older People and TaxAid if you are of working age and your income is less that £20,000 per year. If you’re struggling with a financial problem that involves HMRC you may wish to contact them. There is lots of free information and resources on their websites.

It is also the case that for many people their financial distress is caused by a fraud or scam. Citizens Advice have resources to help you identify if something is a scam. If you are unsure visit our website and use the online tools to identify is something is a scam. If you have been unfortunate enough to be caught out by a scam you can get help on 0800 250 5050. It is important that you report it!

Assets and building a safety net

It may sound impossible to think about building a safety net of savings at this moment in time but this is something that we should all plan for. There are a number of resources to help with savings and pension planning as well as incentives to help people saving to buy a home for the first time.

Your credit union for Nottinghamshire and Lincolnshire.
Information on government schemes to help first time buyers.
Pension Wise is a government service from MoneyHelper that offers free, impartial pensions guidance about your defined contribution pension options. An appointment with Pension Wise is free and will help you understand what your overall financial situation will be when you retire.
Help to Save is a type of savings account. It allows certain people entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1 they save over 4 years.
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