Talking About Money

Talking about money isn’t always easy. So much so that 90% of young people feel uncomfortable discussing finances. We know the result of not seeking help earlier, as 1 in 5 young people who come to us have a debt problem. So we know it’s pretty important to reduce the stigma around money.

Budget planners can help you understand what you’re earning and spending, and where you might be able to cut costs. You can use the free planner on www.moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner. Try to find your most recent bank statements, payslips and proofs of income, debit and credit card statements or bills and receipts for things you usually pay for.

Remember to include all your expenses, for example money you spend on your partner or family.

You may have savings you don’t know about. Your parents might have bought Bonds when you were younger or if you were born between 1^st September 2002 and 2^nd January 2011 you may have a Child Trust Fund waiting for you of up to £1000 or more. If you’d like to find your Child Trust Fund but you’re not sure how, The Share Foundation (www.sharefound.org) and Gov.uk can help you.

If you’re behind on your bills you should work out what’s a priority and non-priority bill. Priority bills should come first. Falling behind on them can cause serious problems. For more information on managing your money, please go to https://bit.ly/3E19Nmi.

Citizens Advice Basingstoke is an independent local charity providing free, confidential and impartial advice, whatever your enquiry involves. To speak to one of our advisers please call Adviceline on 0808 278 7829, Monday to Friday, 9-4pm. We are here to help.

Citizens Advice Basingstoke website http://www.cabasingstoke.org.uk
National Citizens advice website www.citizensadvice.org.uk

Registered charity no 900116.