DCSIMG

Navigate the money maze

Launch of The Money Maze, a new initiative of Bassetlaw Council and Citizens Advice Bureau to help people escape the poverty trap.  Pictured are CAB director Stephen Saddington and Coun Sylvia May (w120918-7)

Launch of The Money Maze, a new initiative of Bassetlaw Council and Citizens Advice Bureau to help people escape the poverty trap. Pictured are CAB director Stephen Saddington and Coun Sylvia May (w120918-7)

BASSETLAW Council has launched a new booklet this week to help people escape the poverty trap.

The Money Maze booklet aims to help people avoid getting into financial difficulties or let them know where to find help.

Bassetlaw ranks 61st out of 326 council areas for being at risk of poverty and 64th for being at risk of child poverty.

Coun Sylvia May, cabinet member for revenues and customer servives, said getting the right help was ‘crucial’.

“Financial problems can affect anybody and in the current climate more and more people are beginning to struggle,” she said.

“This is a growing concern for all of us and the council are already working with partners such as the Credit Union, Bassetlaw CAB and A1 Housing to provide the best advice and support possible to our residents.”

The booklet contains a wealth of advice to encourage people to take action before problems begin or start to mount up.

The number of pawnbrokers and moneyshops has increased in the last year, with shops now operating in Worksop and Retford.

According to the booklet, mortgage repossession attempts have also increased and the level of homelessness across the district is rising.

A council spokesman said: “Households may be able to ‘breathe in’ for a short time if the budget is getting tighter but sometimes your money won’t stretch far enough.”

“People may get to the stage when they are tempted to go for a payday loan or use a doorstep lender, or worse be taken advantage of by a ‘loan shark.”

He added: “Sources of cheap credit are disappearing and benefits and tax credits are reducing, so it is important that individuals and their families budget for those changes and get help to organise their finances.”

“It is also possible that mortgage rates will rise in the foreseeable future and again for many people this will mean budgeting for extra repayments.”

As well as a comprehensive list of organisations offering a range of financial help and information, the booklet also offers detailed advice on anyone thinking of taking out a loan.

It is available from a range of locations across Bassetlaw, including the CAB, churches and information points.

For more information visit www.bassetlaw.gov.uk or call 01909 533533.

 
 
 

Back to the top of the page